GP records increase in subscribers, revenue
The Grameenphone (GP) Limited has registered a growth in active subscribers by 5.9 per cent to 69.2 million in the first half of 2018.
The country’s largest mobile phone operator also reported, during the period, revenue receipt of Tk 63.8 billion, 1.2 per cent rise from the same period last year.
The company made the half-yearly financial disclosure at GP House in the city on Monday, said officials concerned.
It saw higher growth in the use of data as data revenue rose by 21.1 per cent along with voice revenue growth of 2.4 per cent whereas the company’s overall revenue growth has stood at 4.6 per cent.
With 34.5 million data subscribers, 49.9 per cent of total subscribers are using Grameenphone internet services, said a news release.
“First half of 2018 was challenging due to adverse effect from bad weather and ongoing competition intensity. Despite this we were able to report healthy growth and margins,” said Michael Patrick Foley, CEO of Grameenphone Ltd.
He mentioned that GP has crossed the 2 million 4G subscriber milestone. “Our network rollout as well as modernisation plan is on track to deliver superior customer experience. Our consolidated voice and competitive data offers are creating positive traction in the market.”
Net profit, according to the company disclosure, after taxes for the first half was Tk 17.2 billion with 26.9 per cent margin. Earning per share for the period has been Tk 12.74, it said.
“Amidst challenges, we were able to end the first half of 2018 in a positive note,” said GP CFO Karl Erik Broten, adding, “I am also happy to announce that Grameenphone Board of Directors declared interim dividend at the rate of 125% of paid up capital.”
Grameenphone Ltd. invested Tk 25.4 billion for 4G license, spectrum, tech-neutrality conversion fee and network coverage as well capacity enhancement.
During the quarter, the company contributed to the exchequer Tk 47.9 billion, comprising 74.7 per cent of total revenue, in the form of taxes, VAT, duties, spectrum assignment, neutrality and license fees, said the company.