GP's profit rises 3pc, slowed down by costs

Grameenphone experienced a marginal profit growth in the first nine months to September, compared to the same period of the previous year, as its revenue was narrowed by operating costs.
The leading telecommunication service provider has reported a 3 per cent year-on-year rise in profit to Tk 27.21 billion for the period.
During the time, revenue rose 5 per cent to Tk 118.45 billion, compared to the previous year.
A significant jump in operating costs slowed the profit growth.
According to the company's financial statement, its operating cost was Tk59 for a revenue income of Tk 100 in the nine months of 2023, up from Tk 57 a year ago.
The operating cost jumped mainly due to a 35 per cent rise in energy costs to Tk 4.74 billion in the nine months, compared to the same period of the previous year.
The company's earnings per share (EPS) stood at Tk 20.15 for January-September 2023, increased from Tk 19.54 for the same period of the previous year.
The share price of Grameenphone remained stuck at the floor price of Tk 286.60 since September 22, 2022.
The company's net operating cash flow per share stood at Tk 34.34 for January-September 2023, down from Tk 37.29 for the same period of the previous year.

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