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Grameenphone earns Tk 74.2bn revenue in H1of 2022

  • Staff Correspondent
  • 19 July, 2022 12:00 AM
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Grameenphone earns Tk 74.2bn revenue in H1of 2022

Mobile phone operator Grameenphone Ltd. reported a total revenue of Tk 74.2 billion for the first six months of 2022, registering a growth of 5.2% from the same period last year.

In the second quarter, the company acquired 0.9 million new subscribers, reaching a total of 84.6 million subscribers at the end of the first half of the year, it said in a press release on Monday.

The mobile phone operator said 54.6% of Grameenphone’s total subscribers, or 46.2 million are using internet services, growing by 5.7% from the same period last year. 

“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,” said Yasir Azman, CEO of Grameenphone Ltd.

He said, “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, Azman added. 

“We continued to prioritise 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,” the Grameenphone CEO said.

He said Grameenphone has been continuously focusing on innovation, network modernisation 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 digitalisation and meet the growing needs for high-speed internet in urban and rural areas.” 

Yasir Azman said, “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 Tk 74.2 billion for the first six months.”

In the first half, subscription and traffic revenues grew by 5.6% from last year while the data segment continued as key driver behind the company’s 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.

He said in the first half, EBITDA grew by 3.0% year-on-year driven by topline growth, with a 61.1% EBTIDA margin while net Profit After Tax improved to Tk 17.3 billion, with a margin of 23.3%.

“We are pleased to announce that the Board of Directors have recommended an interim dividend of Tk 12.50 per share for our honorable shareholders at the board meeting held on 17 July 2021,” he said.

During the second quarter of 2022, Grameenphone Ltd invested Tk 5.6 billion 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 Tk 54.3 billion 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.