GrameenPhone (GP), Bangladesh’s largest cellco by subscribers, has reported that its revenues reached BDT55.15 billion (USD799.3 million) in the first nine months of 2010, a 14% increase from the same period of 2009, as sales in the third quarter rose 17% year-on-year to BDT19.34 billion. Growth in turnover was mainly attributed to a rise in voice as well as interconnection revenues due to increased subscription volumes, whilst data revenue also contributed – increasing by 68% in the nine months ended 30 September 2010 compared to the corresponding period of 2009. Net profit in 9M10 was BDT7.74 billion, giving a 14.0% profit margin, up from BDT6.52 billion and a 13.4% margin in the first three-quarters of 2009. GrameenPhone’s total subscription base stood at 28.65 million at end-September 2010, up from 21.99 million a year earlier. The company, commenting on the hindering factor of mobile SIM tax in the market, said that ‘GP’s strong revenue performance shows that subsidised acquisitions [to hide the cost of SIM tax] during the year have started to pay back through revenue generation.’
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