GP posts Tk 17b revenues in Q1
Wednesday, 5 May 2010
FE Report
Grameenphone Ltd (GP) reported Tk 17 billion revenues for the first quarter of 2010 registering an eight per cent growth from the first quarter of 2009.
Total revenues for the quarter increased by about Tk 310 million and 1.8 per cent compared to the fourth quarter of 2009, mainly in voice revenues, due to growth in subscription base. Data revenues also contributed to the consistent revenue growth, increased by 65 per cent and 13 per cent from first quarter and fourth quarter of 2009 respectively.
"I am pleased by the results of the first quarter," said Oddvar Hesjedal, CEO, Grameenphone Ltd., "particularly since this is the first full quarter results for Grameenphone as a publicly listed company." He added, "We continued with our innovations and offered our valued customers with new products designed as per their needs." He also noted, "To ensure best network and service for our valued customers we have invested BDT 1.16 billion during this quarter mainly in capacity and quality of network."
The company has added 645,000 new subscriptions during the quarter. This addition takes Grameenphone's total subscription base to 23.9 million, serving 44 per cent of the mobile market. Notably, increase in subscription acquisition costs in connection with subsidy on SIM tax, have pushed EBITDA margins down to 55 per cent compared to 59 per cent of same period last year.
Net profit after taxes in this quarter was BDT 3.16 billion with 18.5 per cent margin, 38 per cent up from BDT 2.28 billion with 14.5 per cent margin of the same quarter of last year. The increase was mainly driven by revenue growth, continuous cost optimization initiatives even under severe power crisis and lower interest expenses.
Grameenphone Ltd (GP) reported Tk 17 billion revenues for the first quarter of 2010 registering an eight per cent growth from the first quarter of 2009.
Total revenues for the quarter increased by about Tk 310 million and 1.8 per cent compared to the fourth quarter of 2009, mainly in voice revenues, due to growth in subscription base. Data revenues also contributed to the consistent revenue growth, increased by 65 per cent and 13 per cent from first quarter and fourth quarter of 2009 respectively.
"I am pleased by the results of the first quarter," said Oddvar Hesjedal, CEO, Grameenphone Ltd., "particularly since this is the first full quarter results for Grameenphone as a publicly listed company." He added, "We continued with our innovations and offered our valued customers with new products designed as per their needs." He also noted, "To ensure best network and service for our valued customers we have invested BDT 1.16 billion during this quarter mainly in capacity and quality of network."
The company has added 645,000 new subscriptions during the quarter. This addition takes Grameenphone's total subscription base to 23.9 million, serving 44 per cent of the mobile market. Notably, increase in subscription acquisition costs in connection with subsidy on SIM tax, have pushed EBITDA margins down to 55 per cent compared to 59 per cent of same period last year.
Net profit after taxes in this quarter was BDT 3.16 billion with 18.5 per cent margin, 38 per cent up from BDT 2.28 billion with 14.5 per cent margin of the same quarter of last year. The increase was mainly driven by revenue growth, continuous cost optimization initiatives even under severe power crisis and lower interest expenses.