Banglalink clocks 9.6% revenue growth in Q1

Banglalink Digital Communications Ltd has earned a revenue of Tk 12,420 million in the first quarter in 2022, with 8.6 per cent increase year-on-year. The revenue in the Q1 in 2021 was 11440.

Banglalink’s parent company VEON published Trading Update for first quarter of 2022 on April 28, said the statement.

According to the report, demand for mobile data services of Banglalink in the quarter remained strong, with data usage increasing 56.3 per cent YoY, contributing to a 22.1 per cent YoY growth in mobile data revenue during 1Q22.

4G user growth of 39.7 per cent YoY remains a key enabler, as 4G user penetration reached 34.9 per cent of Banglalink’s total customer base, according to the report.

Banglalink’s self-care app MyBanglalink recorded a 90.4 per cent YoY increase in MAUs to 3.6 million, while its video streaming app Toffee closed the quarter with 6.3 million customers (+86.9 per cent YoY).

Average watch time reached 64 minutes, increasing by 25.4 per cent QoQ. Capex in 1Q22 was Tk 4.0 billion, as investment in the 4G network continued, and Banglalink remains committed to its network investment plans for 2022.

In the recent spectrum auction, Banglalink acquired 40 MHz in the 2.3 GHz band. With this, Banglalink doubled its total spectrum holding and will continue to hold the most spectrum per customer within the country. On 26 April 2022 Banglalink signed a BDT 12.0 billion (c.USD 135 million) local syndicate funding agreement for general corporate purposes with a five year maturity.

Banglalink CEO Erik Aas said, “Banglalink started 2022 with the strong growth momentum gained in the earlier years. The revenue growth of 8.6 per cent YoY in 1Q22 clearly demonstrates our consistent performance”.

“Once again, Banglalink’s data revenue, which grew by 22.1 per cent YoY, was a key contributor to our growth. A 4.8 per cent YoY growth in our customer base shows how actively the customers are embracing our super-fast 4G internet and innovative digital services”, he said.

Banglalink managed to increase its market share in 1Q22.

Toffee continued to perform well in the digital service segment, with its monthly active user base reaching 6.3 million during the quarter.

We have recently introduced two more digital services - Health Hub and Applink - to facilitate healthcare and local app development.

Along with expanding our digital services portfolio, we are carrying out a 4G network expansion and modernization drive to reach our target of double-digit growth. The recently acquired 40 MHz spectrum and newly built base stations will help us in this regard.”