Grameenphone’s net profit rose 17 per cent in the second quarter to Tk 8.5 billion from a year earlier, powered by increased use of mobile data during the coronavirus pandemic and lower finance costs.
Data use per customer increased by 38.6 per cent, while there was a 7.0 per cent year-on-year growth in data users, Grameenphone, Bangladesh’s largest mobile carrier, said in a statement on Thursday, reports bdnews24.com.
Grameenphone has reported Tk 35.8 billion in revenues in the second quarter of 2021, registering 8.1 per cent growth from a year earlier.
In this period, 1.3 million new subscribers opted for Grameenphone as the total number of subscribers climbed to 82 million. As many as 43.7 million users use its internet services, accounting for 53.3 per cent of its user base, according to the statement.
“Our effort in enhancing customer experience and digitalisation resulted in more subscribers choosing Grameenphone and an increase in data usage in the second quarter,” said Chief Executive Officer Yasir Azman.
“Following the extensive expansion of 4G to all our towers in the first quarter, Grameenphone has focused on deploying the newly acquired spectrum and continued rolling out new sites.
“These efforts have enabled us to enhance the experience for our customers, meeting the demand for high-speed internet, while keeping our commitment to support the digitalisation of Bangladesh.”
Azman said 4G data users increased by 2.3 million, growing by 56.5 per cent year-on-year, while digital recharge increased by 14.5 per cent. The company marks its return to “topline growth” in the second quarter amid the pandemic.
“As a recognised emergency service provider, we are navigating challenges by working relentlessly with our partners, stakeholders, law enforcement and local communities while prioritising health and safety for our employees, partners and customers,” Azman said.
Jens Becker, chief financial officer of the company, said, “The improving momentum from the beginning of 2021 has translated into growth in the second quarter as our subscription and traffic revenues grew by 8.5 per cent from last year.”
Grameenphone announced Tk 12.5 in interim cash dividends per share. The stock gained after the disclosure, with the trading volume going 14 per cent above the 20-day average.
The company said it invested Tk 5.2 billion for network coverage during the second quarter, taking the total number of sites to 17,416.
It added that the company paid Tk 54.5 billion, accounting for 77.2 per cent of its total revenues, to the national exchequer in the form of taxes, VAT, duties, fees, 4G licence and spectrum assignment in the first half of 2021.
