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GP revenue soars

  • Published at 11:41 am July 14th, 2017
  • Last updated at 03:58 pm July 14th, 2017
GP revenue soars
Telecom giant Grameenphone Ltd posted Tk3240cr in revenue in the second quarter of 2017, up 5.8% from the first quarter. The operator ended the second quarter with 61.6 million active subscribers, registering a 2.9% enhancement growth from the first quarter. With 27.0 million data subscribers, 43.9% of total subscribers are using Grameenphone internet services. GP rang up a net profit of Tk790 crore with earnings per share (EPS) of Tk5.87 during this quarter. Higher revenue and operating efficiency contributed to log a EBITDA (earnings before interest, tax, depreciation and amortisation) of Tk1990 crore. Dilip Pal, CFO of Grameenphone made the disclosure at a press conference held in Dhaka on Thursday. "The revenue growth and normalised earnings growth for the period is a reflection of our committed focus on driving growth with efficiency," he said. "I am also happy to announce that the Grameenphone Board of Directors declared interim dividend at the rate of 105% of paid up capital,” he added. Michael Patrick Foley, CEO of Grameenphone Ltd said: "Industry was very competitive during this quarter, especially in the subscriber acquisition front, yet we could manage to deliver a healthy growth both in data and voice segments." "Offsetting the commercial performance of the business is a growing concern in comparison to the business environment, in particular the regulatory regime and local taxation policy," added Michael Patrick Foley. "The mobile industry is a great FDI success story for Bangladesh, we need to work together with the government so that more foreign investors get attracted to invest here," the GP CEO added. Grameenphone invested Tk330 crore during the quarter for 3G as well as 2G coverage expansion and customer experience enrichment. Grameenphone Ltd added 141 2G and 225 3G sites, taking the cumulative site numbers to 12,363 for 2G and 11,557 for 3G. During the quarter, the company contributed Tk 1640 crore to the exchequer, comprising 50.6% of total revenue, in the form of taxes, VAT, duties and license fees.