GP posts 3.7pc negative growth in Jan-Mar revenue

The mobile phone operator, however, adds 1.7m new subscribers in Q1

Staff Correspondent

21 April, 2021 12:00 AM printer

Mobile phone operator Grameenphone Ltd. reported a total revenue earning of Tk 34.81 billion during the first three months of 2021, registering a negative growth of 3.7 percent on an annual basis.

The company attracted 1.7 million new subscribers during the same period, totaling the number at 80.7 million with a 7.2 percent growth year-on-year, said a GP statement on Tuesday.

Of them, 41.7 million subscribers, or 51.7 percent of total subscribers, are using internet services.

“Several significant milestones were achieved in the first three months of 2021,” said Yasir Azman, CEO of Grameenphone Ltd.

He said the Grameenphone, on Bangladesh’s 50 years of independence, would reaffirm its commitment to empower the country with 4G/LTE network comprising 15,590 towers.

He said with the acquisition of 10.4 MHz spectrum, Grameenphone holds 47.4 MHz of spectrum.

Yasir Azman added that the company acquired 1.7 million subscribers crossing the 80 million milestone during January-March period.

He said with an annual growth of 50.7 percent, the operator reached 21.5 million 4G users.

“With focus on our strengths in market execution, innovation, driving simplification and bringing convenience to customers, we are committed to using our technology expertise in building capabilities and digital enablement,” the CEO added.

He said, “We are also faced with increased volatilities as Bangladesh faces its worst yet wave of COVID-19. Our efforts will continue in devising collaborative solutions in supporting recovery from the pandemic while      

we will continue to enrich our service propositions and facilitate the country towards growth and digitalization.”

“We started 2021 with improved momentum as we continued roll out with 1510 4G sites, strong execution in the market leading to higher subscriber acquisition YoY and 3.4 percent growth in data users.”

Grameenphone’s chief financial officer (CFO) Jens Becker said “At the end of the quarter we reported a year over year de-growth of 3.7 percent in total revenues keeping the EBITDA margin at 62.7 percent. Net profit after tax for the period stood at Tk 8.9 billion with 25.6 percent margin.”

During the first quarter of 2021, Grameenphone Ltd. acquired 10.4 MHz spectrum. Capex investment stood at Tk 3.61 billion (excluding license and lease) for network coverage. Grameenphone’s total number of sites stands at 16,852. The company has paid Tk 27.32 billion equaling 78.5 percent of its total revenues, to the national exchequer in the form of taxes, VAT, duties, fees, 4G license and spectrum assignment during the quarter.