Mobile operator Grameenphone (GP) has reported revenue earnings to the tune of Tk. 33.2 billion (3,320 crore) in the third quarter of 2017. The figure is up by 2.4 per cent from that of the second quarter.
The telecom giant also saw its subscriber base grow by 3.7 per cent in the third quarter to September last with 63.9 million remaining active subscribers, according to a press release.
GP now boasts about 30 million data subscribers, which means around 46.9 per cent of the Grameenphone subscribers are now using GP internet services.
"The quarter was particularly challenging one due to heavy rainfall and the disastrous flooding that affected much of the country", said Michael Patrick Foley, CEO of Grameenphone Ltd.
"The industry continued to be very competitive on a number of fronts including subscriber acquisition. Nevertheless, we delivered growth both in data and voice segments", Foley said.
"During the quarter, strong retail execution and competitive offers contributed to adding close to 3.0 million data subscribers", he added further.
Grameenphone's net profit after taxes for the quarter was Tk 7.0 billion. Earnings per share for the quarter stood at Tk 5.16, the press release added.
"The healthy growth in our revenue generating subscriber base, price stability in voice segment and ongoing operational efficiency programmes are all contributing in value creation for our shareholders," said Karl Erik, newly-appointed CFO of Grameenphone.
GP invested Tk. 2.1 billion during the quarter mainly for further rollout of 3G sites and capacity enhancement. During the period, 154 2G and 284 3G sites were rolled out, taking the cumulative site numbers to 12,517 for 2G and 11,841 for 3G.
The company contributed Tk 18.7 billion to the exchequer. It was 56.4 per cent of total revenue in the forms of taxes, VAT, duties and licence fees.
"The cumulative contribution to the state coffer for the year stands at Tk 46.9 billion", the press release said.
"The results point to the significant upside opportunity in Bangladesh's telecom industry, particularly in mobile data services. The potential for 4G to spur economic growth and enhance the competitiveness of the economy is considerable," Grameenphone CEO Michael Foley said.
"We are committed to meaningful consultations between Industry and Government that will result in the creation of a set of 4G Licence and Spectrum Auction guidelines that strengthen investor confidence in regulatory and fiscal policy", he added.
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