Grameenphone revenue witnesses 11.8 per cent rise in 2017

January 31, 2018 00:00:00

Grameenphone Ltd reported revenue of BDT 128.4 billion for 2017, up 11.8 per cent of 2016.

Data revenue grew by 46.4 per cent along with voice revenue growth of 9.5 per cent.

During the 4th quarter of 2017, total revenue grew by 8.0 per cent, said a statement.

Grameenphone Ltd. acquired 7.4 million new subscribers during the year, registering a 12.7 per cent growth. The company also acquired 6.6 million internet users. With this, 47.7 per cent of total subscribers are using Grameenphone internet services.

"In 2017 we delivered a strong business performance amidst a very competitive environment. We were able to achieve this through focus on the strategic ambitions outlined and solid execution in the market. Our SIM market share was stable at 45.4 per cent and voice revenue growth improved further," Michael Patrick Foley, CEO of Grameenphone Ltd told the financial analysts of different brokerage houses Tuesday.

Deputy CEO & CMO Yasir Azman and CFO Karl Erik Broten were also present.

He added, "Going forward we will bring in more agility and speed in our execution machinery with sharper focus on our proven strategic priorities to create more value for our honorable shareholders."

Net profit after taxes for 2017 was BDT 27.4 billion. Higher revenue and operating efficiency contributed to EBITDA (before other items) of BDT 76.2 billion. Earnings per share (EPS) for the year was BDT 20.31.

GP invested BDT 14.5 billion during the year to rollout 3G sites, 2G coverage, capacity enhancement and network & IT readiness for future business. GP, the largest contributor to exchequer paid BDT 61.8 billion, comprising 48.1 per cent of total revenue to the national exchequer during the year in the form of taxes, VAT, duties and license fees.

The Board of Directors of the company recommended 20.5 BDT per share for the full year 2017 dividend based on the decision taken at the Board Meeting held Monday. With this, the total cash dividend stands at 205 per cent of paid up capital which represents 101 per cent of profit after tax for the year 2017 (including 105 per cent interim cash dividend). The Shareholders as of the record date of 19 February 2018 will be entitled for this final dividend, which is subject to the Shareholders' approval at the 21st AGM to be held on 19 April 2018.