Home ›› 05 Jul 2022 ›› Stock
Grameenphone (GP), the country’s largest mobile phone operator, reported a net profit of Tk 809 crore in the first quarter (Q1) ended March 30 of this year while Robi, the second-largest mobile phone operator, reported a net profit of Tk 40 crore during the period.
According to their latest financial statements, GP’s profit fell a little over 9 per cent from Tk 890 crore recorded in the corresponding period of the previous quarter. In contrast, Robi's profit increased 33.33 per cent to Tk 40 crore during the period.
During the period, GP's revenue stood at Tk 3,633 crore while Robi's revenue was Tk 2,020 crore.
GP Company Secretary SM Imdadul Haque told The Business Post, "Our earnings declined in the first quarter as we spent more on operating and maintenance, sales and spectrum purchase,"
On Wednesday, the telecom regulator BTRC banned GP from selling new connections until it improved the quality of its customer service.
Since the ban, GP shares continued to fall and on Monday, they closed at Tk 282.60, which was around Tk 294 on Thursday. In three days, the GP share price decreased by Tk 11 per share.
“Our business is dependent on SIM users. Now it is natural that if our users decrease, then it will affect the overall income,” said the GP company secretary.
On the other hand, Robi's share price was up by Tk 6.30 to Tk 36.10 in the last three days.
Meanwhile, Robi on Monday signed a three-year term loan agreement worth Tk 400 crore with Dutch-Bangla Bank.
Before the ban, more than 2 lakh shares of Grameenphone were exchanged every day, but on Thursday, 1.83 lakh shares were traded and on Monday, only 92,000 shares were exchanged.
On the other hand, Robi's 6.68 lakh shares were exchanged on Wednesday, 26.93 lakh shares on Thursday, and 77.23 lakh shares on Monday.
