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15 July, 2020 09:08:25 PM

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Grameenphone sees revenue fall

Staff Reporter, Dhaka
Grameenphone sees revenue fall

Grameenphone Ltd, the largest telecommunications service provider in the country, reported negative growth both in revenues and in the number of subscribers after the second quarter of 2020, according to a press statement.

In the statement issued on Wednesday, the company reported revenue of Tk 33.1 billion for the second quarter of this year, registering an 8.2 per cent de-growth from the same period last year.

Net profit after taxes (NPAT) for the second quarter was Tk 7.3 billion, with 22.0 per cent margin. Earnings per share (EPS) for the period stood at Tk 5.38. 

The operator reported 74.5 million customers, of which 54.8 per cent or 40.8 million are internet users.

“For the past four months, we have been experiencing the impact of an unprecedented global pandemic which has driven us to drastically change our way of work and how we serve our customers.

In addition to COVID-19, we have experienced impact from challenging weather and regulatory scenario, all of which combined has driven us to a de-growth in our performance compared to last year.” said Yasir Azman, CEO of Grameenphone Ltd.

“The second quarter of 2020 has been challenging for Grameenphone as we experienced an overall slow-down of economy due to the general holidays which started to gradually recover from May,” said Jens Becker, CFO of Grameenphone Ltd. 

“We experienced de-growth in subscription and traffic revenues, even though data revenue stayed on track,” he added.
During the second quarter, Grameenphone Ltd invested Tk 2.5 billion for network coverage, adding 132 new 4G sites to their network. 

The company has paid Tk 46.4 billion equaling 67 per cent of its total revenues, to the national exchequer in the form of taxes, VAT, duties, fees, 4G license and spectrum assignment, the statement added.

HM

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Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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