Update February 8, 2016

Dhaka 2-45 pm, 19-September, 2021

GP witnesses robust performance in 2015 after challenging start

Sumel Sarker

Grameen Phone

GP witnesses robust performance in 2015 after challenging start

08 February 2016, Nirapad News: Cellular phone operator Grameenphone registered BDT 104.8 billion as revenue for 2015, which is 2 per cent more than the previous year buoyed by health data and VAS growth.

Subscription and traffic revenue (excluding inter-connection) grew by 2.4 per cent along with 3.5 per cent growth in device and other revenues.

Besides, data revenue growth of 66 per cent while VAS growth of 31 per cent are the main contributors for the revenue, according to the financial statement released by the operator today at a press conference in a city hotel, said a press release today.

“Data went on to be the primary growth driver, while voice was under stress from competitive offers”, said Rajeev Sethi, CEO of Grameenphone.

“Going forward, we have set out an ambition of growth and value creation by taking the position as our customers’ favorite partner in digital life,” he added.

During the 4th quarter, subscription and traffic revenue grew by 5.2 per cent compared to that of 2014.

GP acquired 5.2 million new subscriptions, taking the subscription base to 56.7 million. This 10 per cent subscription growth took the SIM market share to a stable one of 42.4 per cent. Data subscribers grew by 45 per cent to 15.7 million and data volume almost grew by 3 times during the year.

Net profit after taxes for the period was BDT 19.7 billion compared to BDT 19.8 billion of 2014. Efficiency in operating expenditure led to a healthy EBITDA (before other items) of BDT 56 billion with 53.4 per cent margin. Earnings per share (EPS) for the year stood at BDT 14.59.

“Earnings were stable despite higher depreciation and amortization as well as charging off one-time appeal payment related to the SIM replacement tax dispute”, said Dilip Pal, CFO of Grameenphone.

The Board of Directors of Grameenphone have recommended final dividend for the year 2015 in cash at the rate of 60 per cent of the paid up capital (i.e. BDT 6 per share of BDT 10 each) based on the decision taken at the Board Meeting held on 7 February 2016.

With this, the total cash dividend stands at 140 per cent of paid up capital which represents 96 per cent of Profit after Tax for the year 2015 (including 80 per cent interim cash dividend).

Visitor's Comment: ( The authorities are in no condition responsible for any comments of the reader)