Grameenphone reports 5.2% revenue growth in Q2 2022

Telecom operator Grameenphone has reported revenues of  Tk7,421.8 crore for the first six months of 2022, registering a growth of 5.2% from the same period last year. 

In the first six months, the company acquired 0.9 million new subscribers, reaching 84.6 million total subscribers at the end of the first half. 

Addressing the development, Grameenphone Ltd CEO Yasir Azman said, "The second quarter of 2022 was a challenging period for Bangladesh, as the northern regions were hit by the highest rainfall in over a century, leading to devastating floods impacting the livelihoods of millions of people. 

In partnership with the Bangladesh Red Crescent Society (BDRCS), we supported impacted communities by activating medical camps offering free consultancy and medication, while also working together to provide relief packs for affected families. The impact from the pandemic remained steady during the quarter with low number of Covid-19 cases, leading to continued economic recovery." 

He said, "We continued to prioritize expanding our network and spectrum rollout, reaching over 18.4K 4G sites within the first half of 2022. Driven by enhanced network experience and innovative products, our subscribers grew by 3.2% year-on-year to 84.6 million while 4G users grew by 32.7% from last year, reaching 31.5 million. 

"Grameenphone has been continuously focusing on innovation, network modernization and implementation of up-to-date technology and acquired the maximum allowable spectrum to improve service quality further. 

"With this investment, we will be much better positioned to strengthen the quality of service, contribute to Bangladesh's digitalization and meet the growing needs for high-speed internet in urban and rural areas,"  the GP CEO added.

"Topline improvement continued as we wrap up the first half of 2022 supported by growth in revenue and EBITDA. Total revenues registered a growth of 5.2%, reaching Tk7,421.8 crore for the first six months. 

"In the first half, subscription and traffic revenues grew by 5.6% from last year. The data segment continued as key driver behind our performance, with a 5.7% growth in data users and 52.9% growth in data usage. Contribution from bundles grew by ~100% from last year." said Jens Becker, CFO of Grameenphone Ltd. 

"In the first half, EBITDA grew by 3.0% year-on-year driven by topline growth, with a 61.1% EBTIDA margin. Net Profit After Tax improved to Tk1,730.5 crore, with a margin of 23.3%. We are pleased to announce that the Board of Directors have recommended an interim dividend of Tk12.50 per share for our honorable shareholders at the board meeting held on 17 July 2021." 

During the second quarter of 2022, Grameenphone Ltd invested Tk560.2 crore for network coverage and expansion. At the end of the quarter, Grameenphone's total number of sites stood at 19,439. 

The company has paid Tk5,430 crore equaling 73.1% of its total revenues, to the national exchequer in the form of taxes, VAT, duties, fees, 4G license and spectrum assignment during the first half of 2022.