GP logs hefty profits

Grameenphone logged Tk 655.70 crore in net profit in January-March -- the operator's highest ever in a single quarter with an increase of 16.89 percent year-on-year.

The market leader hit the milestone with a margin of 21.4 percent for healthy growth in data and voice revenue, said a press release yesterday.

It also saw strong growth in internet subscription during the first quarter.

Grameenphone passed a good quarter with a healthy performance to start the year, said Petter Furberg, its chief executive officer.

"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 Furberg in the statement.

Grameenphone disclosed its financial reports through press conferences in the last few years. This time, it shared the information through a press statement.

The company's share prices rose 2.1 percent to Tk 338.40 on the Dhaka Stock Exchange yesterday.

At the end of March, the lone listed mobile operator's revenue stood at Tk 3,062 crore, up 11.11 percent from a year back, which too is a record for a single quarter.

Data usage raked in Tk 462 crore with 64.9 percent growth; the amount is 15.09 percent of its revenue. The operator added 70 lakh internet users to take its tally of active internet users to 2.53 crore. At the end of March, the number of its active SIMs was 5.99 crore, 42.2 percent of which are now using data.

Earnings per share for the period stood at Tk 4.86, up from Tk 4.15 in the same period last year.

"Grameenphone reported healthy earnings, driven by top-line growth and operational efficiency initiatives. We were able to maintain our performance momentum during the quarter as well," said Dilip Pal, chief financial officer of the operator.

The result of this quarter is a testimony that securing potential growth along with operating efficiency is key to driving future profitability for the company, he added.

The operator paid Tk 1,180 crore to the state coffer in the first quarter in the form of value-added taxes, duties and licence fees.