GrameenPhone’s revenues climb 18%

24 Oct 2011

GrameenPhone, Bangladesh’s biggest cellular operator by users, has reported BDT22.83 billion (USD299 million) revenues for the third quarter of 2011, an 18% increase on the same period of last year, while net income in July-September climbed to BDT5.63 billion, giving a 24.7% profit margin, despite what the company’s statement called ‘a daunting regulatory environment’. Higher profit was attributed to sustained revenue growth and cost improvements, partly offset by higher income tax expenses. GrameenPhone added 1.4 million net new mobile subscribers during the three months ended 30 September 2011 to reach a total of 35.2 million customer accounts, a 23% year-on-year increase. According to the company’s release, its market share now stands at ‘approximately 44%.’ According to TeleGeography’s GlobalComms Database, the GSM provider’s share stood at 41.3% at end-June 2011, down from 41.7% a year earlier, based on figures reported by cellcos and the local regulator.

Bangladesh , GrameenPhone (GP)



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