Grameenphone posts Tk755cr net profit in Jul-Sep 

Grameenphone, the largest mobile operator in the country, reported a net profit of Tk755.36 crore for the July-September quarter of 2024, reflecting a 1.1% increase from Tk747.15 crore in the same period last year. 

The company faced a 3.8% year-on-year decline in revenue, with total earnings for the quarter reaching Tk3,954 crore, down from Tk4,110 crore in the same period the previous year.

At the end of the third quarter, Grameenphone's earnings per share (EPS) stood at Tk5.59, compared to Tk5.53 in the previous quarter.

For the January to September period of 2024, its revenue was Tk12,110 crore, up from Tk11,845 crore a year ago. During this period, its EPS was Tk21.88, and its net asset value per share was Tk42.77 at the end of September 2024.

The company reported a total subscriber base of 84.6 million at the end of the third quarter, with 58.3% of Grameenphone's total subscribers – 49.3 million – using internet services, according to a press statement.

Yasir Azman, chief executive officer of Grameenphone Limited, said, "As we all know, this quarter has been particularly challenging for us, testing our resilience across various fronts – economically, politically, and through natural disasters. Despite these difficulties, we have achieved well-managed financial and operational trends while maintaining our investment in strategic growth areas." 

He noted, "During this crisis, we guided our customers on how to recharge their mobile phone accounts, access emergency balances, and obtain vital information about available services, helping them navigate through these challenging circumstances. 

"This quarter was particularly challenging, marked by economic and political pressures, natural disasters, and operational disruptions. Despite these hurdles, Grameenphone achieved strong financial and operational stability while providing essential support to our customers, such as account recharges and emergency information."

Azman said Grameenphone is focusing on sustainable procurement, with 72% of its supplier spending going to partners who aim to reduce their carbon footprint.

As a leader in the industry, he emphasised the need to collaborate with the government and policymakers to create a supportive investment environment that encourages innovation, meets customer needs, and ensures fair competition in the digital age.

On Tuesday (29 October), the company's shares closed at Tk311.20 on the Dhaka Stock Exchange.