Grameenphone Ltd. reported total revenues of BDT 11,845.1 Crore for the first nine months of 2023, registering a growth of 4.9% from the same period last year. In the third quarter, the Company acquired 7.61 lacs new subscribers, reaching 8 Crore 20 lacs total subscribers at the end of the first nine months. 57.9% of Grameenphone’s total subscribers, or 4 Crore 75 lacs, are using internet services, said on a press release on Wednesday.
“The third quarter of 2023 registered continued growth momentum in both revenue and EBITDA supported by data segment in a challenging macroeconomic environment. We continue to focus on meeting our customers’ unique needs through simplified data portfolio, personalized offers and advanced digital capabilities, which has driven higher data usage by customers,” said Yasir Azman, CEO of Grameenphone Ltd.
“Grameenphone’s continuous drive for operational excellence along with topline growth resulted in year-on-year 5.7% EBITDA growth in Q3 while maintaining a strong EBITDA margin at 61.9% amidst energy price hikes, inflation, and other macroeconomic challenges. Total revenue year-on-year grew by 6.3% after 5.6% growth in the previous quarter. Net Profit After Tax for the third quarter stood at BDT 747.2 Crore with a margin of 18.2%.” said Jens Becker, CFO of Grameenphone Ltd.
“During the quarter, Grameenphone invested 278.3 Crore CAPEX, mainly focusing on 4G network coverage expansion and 2600 MHz spectrum deployment. 1,900+ new 4G sites and 1,700+ new coverage sites were rolled out in the last 12 months. At the end of Q3, the number of 4G sites reached 21K, with 97.9% of 4G population coverage. Grameenphone contributed BDT 9,517 Crore to the National Exchequer, equaling 80% of total revenue in the form of taxes, VAT, duties, licenses, and spectrum assignment fees during the first nine months of 2023.”
