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GP earns 64.9% growth in internet revenue

  • Published at 07:36 pm April 23rd, 2017
GP earns 64.9% growth in internet revenue
In the first quarter of the 2017-18 fiscal year, Grameenphone has experienced a massive increase in internet data revenue and has also seen a growth in call revenue. According to the Grameenphone Ltd Q1 Financial Report 2017, the company has had a 64.9% growth in internet data revenue in terms of user base and volume and a 7.1% growth in call revenue. In a press release on Sunday, the telecom operator reported earnings of Tk3,060 crore for the first quarter of 2017, an 11.1% growth from the same period last year. At its 20th Annual General Meeting on 20 April 2017, a 175% cash dividend (including 85% interim cash dividend) was approved for the year 2016. Grameenphone Ltd CFO Dilip Pal said: “Grameenphone has reported healthy earnings driven by top-line growth and operational efficiency initiatives. We were able to maintain our performance momentum during the quarter. “This increase is a testimony that securing potential growth along with operating efficiency is key in driving future profitability for the company.” “During this quarter, we experienced stable voice price and improved data monetisation. Our strong focus on operating efficiency is also generating value for our shareholders,” he added. Net profit after taxes for the quarter was Tk660 crore with a 21.4% margin, compared to Tk560 crore with 20.4% margin of the corresponding period in 2016. Higher revenue and operating efficiency contributed to an EBITDA of Tk1,780 crore. During this period, Grameenphone Ltd. invested Tk450 crore for 3G as well 2G coverage expansion and capacity enhancement for voice. The company currently covers more than 99% of the population in terms of 2G usage and more than 91% for 3G.