GP’s revenue earnings rise 3.75%
Grameenphone’s revenue collection in the first quarter was Tk3,616.85 crore
The revenue earnings of Grameenphone, a multinational company listed on the country's stock market, have risen by 3.75 percent.
Its revenue collection in the first quarter – January to March – was Tk3,616.85 crore.
The revenue earnings were Tk3,486.23 crore during the same time period last year.
In this first quarter of this year, the company's net profit was Tk1,068.98 crore – a 25.81 percent increase from Tk849.64 crore a year ago.
During the first quarter, its earnings per share stood at Tk7.92 – up from Tk6.29 in the same time period last year.
The net asset value of the company against each share was Tk36.31 – which was Tk28.40 during the same time the previous year.
"Grameenphone Ltd reported a reduced growth momentum in the first quarter of 2020," said Jens Becker, chief financial officer of Grameenphone.
"We experienced strong growth in data revenue despite challenges in our planned network rollout. As a connectivity partner to the Digital Bangladesh journey, we will continue investing in the country and building a strong network and distribution ecosystem in order to deliver value to our shareholders and our customers," he said.
Yasir Azman, chief executive officer of Grameenphone, said, "We continued to face challenges in the first quarter of 2020. The restrictions placed on us by our regulator by not issuing NOCs lasted until March, which impacted our planned investment in the country."
"Additionally, we were facing a scarcity of numbers from the beginning of the quarter that has negatively impacted our subscriber base," he added.
"Despite the challenges our focus remained on market execution and maintaining our network leadership position. Our reinforced drive on 4G conversion led to 14.2 million 4G users at the end of the quarter," said Yasir Azman.
