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In the first nine months of the current year, Grameenphone, the largest telecom provider in the nation, recorded total revenues of Tk11,286.75 crore.
According to the operator’s financial reports, it registered a growth of 5.7% from the same period last year.
The growth comes despite losing 2.9 million subscribers in the third quarter, owing to the regulatory ban on SIM sales citing the quality of service.
At the end of the third quarter, the subscriber base of the operator stood at 81.8 million, of which 55.6% or about 45.5 million subscribers, are using the operator’s internet services.
“Grameenphone’s growth momentum continued in the third quarter driven by strong market execution aided by higher revenue and usage in the midst of several external challenges,” said Yasir Azman, CEO of Grameenphone Ltd
As per the top brass, the operator continued its investment in network rollout and spectrum deployment to meet the demand for high-speed internet connectivity, improving customer experience and leading to the operator currently holding 19,100 4G sites.
“As a result, our customers continue to choose Grameenphone as their preferred communications partner, leading to 52.1% higher data usage from last year and 15.9% YoY growth in 4G users, reaching 32 million,” the top brass stated.
Yasir Azman further also said that the third quarter was adversely affected by a regulatory ban on SIM sales from the end of June, resulting in a 3.4% quarter-on-quarter (QoQ) decline in the subscriber base.
“As we continue to engage with our regulator to overcome this restriction, we received a partial withdrawal of the embargo from mid-September, allowing us to resume SIM sales immediately,” he said.
The top brass of GP also pointed out that Bangladesh is facing a tense macroeconomic climate driven by higher inflation, rising energy prices and austerity measures by the government to curb energy usage, and said: “As we navigate through these external challenges, Grameenphone will continue to remain focused on our growth ambition through investment in network while focusing on innovation to meet the growing needs of Bangladesh’s digitalization.”
The telecom operator registered six consecutive quarters of topline improvement driven by higher contributions from voice, data and bundle segments.
Total revenue for the third quarter registered a growth of 6.7%, reaching Tk3,864.93 crore, while subscription and traffic revenue grew by 6.9% from last year, according to Grameenphone.
“Our investment in network rollout and spectrum deployment resulted in higher data usage of 52.1% YoY supported by a higher 4G active user base,” said Jens Becker, the CFO of Grameenphone Ltd.
“EBITDA for the quarter grew by 5% YoY driven by topline growth, while EBITDA margin was 62.2%.
Net Profit After Tax for the third quarter stood at Tk907.66 crore, with a margin of 23.5%,” the CFO cited.
During the third quarter of 2022, Grameenphone Ltd invested Tk278.15 crore for network coverage and expansion.
At the end of the quarter, Grameenphone’s total number of sites stood at 19,719.
As per the company, it has paid Tk7,850 crore equaling 69.5% of its total revenues, to the national exchequer in the form of taxes, VAT, duties, fees, 4G license and spectrum assignment during the first nine months of 2022.
(DT)
