The July-September period of 2023 was a mixed bag for the three listed telecommunication companies – Grameenphone, Robi Axiata, and Bangladesh Submarine Cable Company Ltd (BSCCL).
Grameenphone’s net profits decreased year-on-year by 17.68 per cent during this period, while BSCCL posted a 10.39% per cent decline as well. Industry insiders blamed higher operating costs and government taxes for the drop in profits.
Meanwhile, Robi Axiata Ltd – the country’s second-largest mobile network operator – has reported a massive 233 per cent year-on-year jump in its net profits during the July-September of 2023.
It should be noted that among the three companies, Grameenphone and Robi Axiata have an accounting year based on the January-December period. Meanwhile, BSCCL’s accounting year is based on the fiscal year (July-June period).
Grameenphone
Grameenphone’s Chief Executive Officer Yasir Azman stated in public, “The company growth momentum continued in the third quarter, driven by strong market execution, aided by higher revenue and usage in the midst of several external challenges.
"We continued investment in our network rollout and spectrum deployment to meet the demand for high-speed internet connectivity and improving customer experience.”
Grameenphone's earnings per share (EPS) stood at Tk 5.53 in the July-September period of 2023, compared to Tk 6.72 recorded during the same period last year. According to its financial statement, its third quarter net profit was Tk 747 crore, compared to Tk 907 crore year-on-year.
The telecom giant’s net asset value (NAV) per share was Tk 44.87 until September 30, 2023 and Tk 34.22 until December 31, 2022.
NAV increased mainly due to higher profit for the nine-month period that ended on September 30 this year, compared to the dividend declared for the same period, according to the financial statement.
Bangladesh Submarine Cable Company Ltd
BSCCL posted a net profit of Tk 63.98 crore in the July-September period of 2023, compared to Tk 71.40 crore posted during the same timeframe last year, according the company’s latest financial statement.
Its EPS stood at Tk 3.88 for July-September this year, whereas the figure was Tk 4.33 for the same period last year.
BSCCL Company Secretary Abdus Salam Khan said, “EPS decreased mainly due to reduction of revenue in IP Transit service, and increase of financial costs and provision for bad and doubtful debts.
The company’s net operating cash flow per shares (NOCFPS) was Tk 5.23 for July-September 2023 as against Tk 6.04 for July-September 2022. Net asset value (NAV) per share was Tk 88.94 as on September 30, 2023 and Tk 85.05 as on June 30, 2023.
A BSCCL official said the NOCFPS decreased mainly due to less collection of revenue from the customers and increase of supplier's payment and NAV has been increased mainly due to ordinary course of business activities.
Robi Axiata
According to Robi’s unaudited financial statement for the July-September period, its net profit grew to Tk 104.75 crore, compared to Tk 31.42 crore recorded during the same period last year.
The company’s consolidated earnings per share (EPS) stood at Tk0.20, net asset value (NAV) per share at Tk12.44, and net operating cash flow per share at Tk 5.47 at the end of September 2023.
When communicated on phone, the officials of Robi Axiata did not respond to requests for comment on the company financials.
