Telecom operator Grameenphone has reported a revenue of Tk 51.1 billion for the first half of 2014, up 7.8 percent from the same period last year.
Net profits have also gone up in this period.
“It was a successful quarter,” Grameenphone CEO Vivek Sood said on Tuesday at a press conference at Ruposhi Bangla Hotel in Dhaka as he announced the numbers.
In these six months, GP acquired 2.1 million new subscribers, taking the total subscription base to 49.23 million.
It is about 42.1 percent of the market share, the company said in a media statement.
However, Sood alleged some operators were running VoIP services through their SIMs, which was putting the industry in “serious challenge”.
“I am delighted to inform our honourable shareholders that GP managed another growth quarter as indicated last time, giving the first half a solid base to finish 2014 with a healthy performance,” Sood said at the press conference.
“I am also happy to announce that GP Board of Directors declared interim dividend at the rate of 95 percent of paid-up capital,” he said.
The media release said the company’s net profit after taxes for the first half of 2014 was Tk 10.6 billion with 20.7 percent margin compared to Tk 5.1 billion with 10.8 percent margin of the corresponding period of 2013.
“However, adverse effect of higher corporate taxes had a somewhat negative effect on the bottom line,” the CEO said.
Earnings per share (EPS) for the period stood at Tk 7.85 compared to Tk 3.78 of corresponding period of 2013.
GP invested Tk 6.5 billion during the first half for 3G rollout in all 64 district headquarters, 2G coverage as well as capacity increase and other efficiency enhancement initiatives.
With this, GP’s cumulative investment since its inception in 1997 now stands at Tk 250 billion.
The press release also said the company paid Tk 389 billion to the national exchequer in taxes, VAT, duties and licence fees since its inception.
Source: Bd news24
