Dhaka, Bangladesh (BBN)-Bangladesh’s top mobile phone operator Grameenphone (GP) has reported a revenue of about $1.32bn for 2015 which is up 2 per cent from the previous year.
The company, which is listed on the Dhaka Stock Exchange, said 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, reports Xinhua.
Data revenue growth of 66 per cent and VAS growth of 31 per cent are the main contributors to this during the year, it said.
The cellphone operator said it acquired 5.2mn new subscriptions during the year, taking the subscription base to 56.7mn.
This 10 per cent subscription growth took the SIM market share to a stable 42.4 per cent, said the operator.
Data subscribers grew by 45 per cent to 15.7mn and data volume almost grew by three times during the year.
With 56.679mn customers at the end of 2015, they said GP, 55.8 per cent owned by Norwegian telecom company Telenor and 34.2 per cent owned by local Grameen Telecom, is the largest telecom operator in Bangladesh and has a strong legacy of providing mobile services to all parts of the country.
“GP continued with the performance momentum after the challenging start of the year. Data went on to be the primary growth driver, while voice was under stress from competitive offers,” said Rajeev Sethi, chief executive officer of Grameenphone.
“Going forward we have set out an ambition of growth and value creation by taking the position as our customers’ favourite partner in digital life.”
GP said its net profit after taxes for the period was 19.7bn taka compared to 19.8bn taka of 2014.
“We managed to deliver profitable growth amidst the subdued top line performance for 2015. Our EBITDA (before other items) grew by 2.8 per cent in comparison to two per cent revenue growth.”
“Earnings were stable despite higher depreciation & amortisation as well as charging off one-time appeal payment related to the SIM replacement tax dispute,” said Dilip Pal, chief financial officer of the GP.
The company invested 19.3bn taka during the year to further rollout of 3G sites, 2G coverage, capacity enhancement for catering higher volume of data and voice as well as enhancement of IT infrastructure for better product and service offerings.
Meanwhile, GP, the largest contributor to exchequer, paid 51.1bn taka, comprising 48.8 per cent of total revenue to the national exchequer during the year in the form of taxes, VAT, duties and license fees.
GP was set up in March 1997 by Bangladeshi micro-finance guru Nobel peace prize-winner Muhammad Yunus.