Grameenphone Ltd reported total revenues of BDT 36.2 billion for the first quarter of 2020, registering a 3.7 per cent growth from the same period last year.
The operator also ended the quarter with 75.3 million total customers, of which 53.6 per cent, or 40.4 million, are internet customers. During the first quarter, the operator also registered a 24.6 per cent growth in data revenue year-on-year.
"We continued to face challenges in the first quarter of 2020. The restrictions placed on us by our regulator by not issuing NOCs lasted until March, which impacted our planned investment in the country," said Yasir Azman, CEO of Grameenphone Ltd.
"Additionally, we were facing a scarcity of numbers from the beginning of the quarter that has negatively impacted our subscriber base. Despite the challenges, our focus remained on market execution and maintaining our network leadership position. Our reinforced drive on 4G conversion led to 14.2 million 4G users at the end of the quarter."
Net profit after taxes (NPAT) for the first quarter was BDT 10.7 billion, with 29.6 per cent margin. Earnings per share (EPS) for the period stood at BDT 7.92.
"Grameenphone Ltd. reported a reduced growth momentum in the first quarter of 2020," said Jens Becker, CFO of Grameenphone Ltd.
"We experienced strong growth in data revenue despite challenges in our planned network rollout. As a connectivity partner to the Digital Bangladesh journey, we will continue investing in the country and building a strong network and distribution ecosystem in order to deliver value to our shareholders and our customers"
In the first quarter, Grameenphone Ltd invested BDT 0.4 billion for network coverage, and added 197 new 4G sites to their network. The total number of sites stands at 16,542. The company also paid out BDT 24.6 billion equaling 68% of its total revenues, to the national exchequer in the form of taxes, VAT, duties, fees, 4G license and spectrum assignment.
The largest telecom company paid the telecom regulator Tk 10 billion as part of a disputed audit claim in February last.
Grameenphone has received a fresh court order to pay the same amount again within three months.