Grameenphone Ltd. reported revenue of BDT 30.6 billion for the first quarter of 2017, an 11.1% growth from the same period last year. Data revenue grew by 64.9% with healthy growth in user base and volume. Voice revenue also grew by 7.1% with healthy development of minutes of usage.
Grameenphone Ltd. ended the quarter with 59.9 million active subscribers, registering a 3.3% growth from last quarter. The company also acquired 0.7 million internet users during the period, taking the quarter end base to 25.2 million. With this, 42.2% of total subscribers are using Grameenphone internet services.
“We passed a good quarter with healthy performance to start the year. Our data as well voice revenue continue to grow with healthy momentum and this is an encouraging sign for us that our commitment towards providing superior network quality and simple offers are creating greater value for our valued subscribers”, said Petter Furberg, CEO of Grameenphone Ltd.
He added, “During the quarter we experienced stable voice price and improved data monetization. Our strong focus on operating efficiency is also generating value for our honorable shareholders.”
Net profit after taxes for the quarter was BDT 6.6 billion with 21.4% margin compared to BDT 5.6 billion with 20.4% margin of the corresponding period of 2016. Higher revenue and operating efficiency contributed to a healthy EBITDA (before other items) of BDT 17.8 billion. Earnings per share (EPS) for the period stood at BDT 4.86.
“Grameenphone Ltd. reported healthy earnings driven by topline growth and operational efficiency initiatives. We were able to maintain our performance momentum during the quarter as well”, said Dilip Pal, CFO of Grameenphone Ltd.
He added, “The result of this quarter is a testimony that securing potential growth along with operating efficiency is key in driving future profitability for the company.”
Grameenphone Ltd. invested BDT 4.5 billion during the quarter for 3G as well 2G coverage expansion and capacity enhancement of voice. Grameenphone Ltd. added 238 2G and 776 3G sites, taking the cumulative site numbers to 12,222 for 2G and 11,332 for 3G. With this, the company is covering more than 99% population for 2G and more than 91% for 3G. During the quarter, the company contributed to exchequer BDT 11.8 billion, comprising 38.4% of total revenue, in the form of taxes, VAT, duties and license fees.
Grameenphone conducted its 20th Annual General Meeting on 20 April 2017 maintaining a benchmark of compliance with all regulations. The shareholders approved the financial statements and 175% cash dividend (including 85% interim cash dividend) for the year 2016 among other agenda.