Chief Executive Officer of GP Vivek Sood disclosing H1 results Tuesday.
Grameenphone (GP), the largest telecom service provider has witnessed a robust revenue growth with Tk10.6 billion net profits in the first half of the year, which is more than 100 per cent higher compared to the corresponding year.
The profit was Tk 5.1 billion in the first half of the 2013, according to the data of the operator.
The mobile phone operator during announcement of its Quarter 2 (Q2) financial result till June 30 at a press conference in the city Tuesday mentioned that the company experienced the strong performance as a result of efficient initiatives that help to go up data growth 59 per cent.
Besides, voice call, content services and inter connection revenue also contributed much to see the result, the operator said.
Total revenue earning of the Norwegian company in the half year stood at Tk 51.1 billion increasing 7.8 per cent from the same period of last year. Quarterly revenue of Tk 26.2 billion registered a 9.5 per cent (YoY) and a 5.1 per cent (QoQ) growth. Net subscriber addition in the Q2 is 0.6 million.
The company has decided to offer interim dividend at the rate of 95 per cent of the paid up capital for the year 2014. Earnings per share (EPS) for the period stood at Tk 7.85, which was only Tk 3.78 in the corresponding year.
Chief Executive Officer at the GP Vivek Sood gave an overview of the financial results in the press conference and Chief Financial Officer Md Mainur Rahman Bhuiyan described details about the report.
"Stable political environment, improving economic activities and GP's strong traction in the market contributed to this elevated performance," said the GP top official.
He mentioned that its strategic ambition of internet for ALL and enabling position on MFS has been well executed. However, industry is challenged by high VoIP traffic contributed by some operator SIMs.
The GP boss said its 3G subscriber has reached 1.3 million till June this year out of 49.23 million total subscribers. The company invested Tk0.5 billion for only 3G network development out of total investment 6.5 billion in the half year. Its 3G coverage has already reached 64 districts.
Talking about different issues especially relating to tax, he said the national budget did not meet their expectation.
Explaining on the matter, the CFO of the company Mr Mainur Rahman said the government did not consider their appeal of harmonization corporate tax and SIM Replacement issue.
Grameenphone also declared 95 percent interim cash dividend for the year to be ended in 2014.
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