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Banglalink posts 17.7% rise in 2023 Q1 revenue

Staff Correspondent
04 May 2023 15:14:22 | Update: 04 May 2023 15:15:34
Banglalink posts 17.7% rise in 2023 Q1 revenue

Banglalink continues its impressive growth momentum with a strong performance in the first quarter of 2023.

According to the quarterly results published on Thursday by Banglalink’s parent company VEON, Banglalink’s total revenue for the quarter rose by an impressive 17.7 per cent YoY (Year on Year) to Tk 1,462 crore, read a press release.

This remarkable achievement can be attributed to Banglalink’s superior network speed, expanding coverage, and innovative digital services that have consistently delivered attractive value propositions to its customers.  

Banglalink’s digital operator strategy, in line with VEON’s award-winning Digital Operator 1440 model, has been instrumental in establishing a growing inclination towards the usage of innovative digital services in Bangladesh, as demonstrated by the growing customer preference for Toffee: Bangladesh’s first User-Generated Content (UGC) platform.

The digital entertainment app served 1.17 crore monthly active users with 20 lakh average daily active users in 1Q23.

Additionally, Banglalink’s self-service super app MyBL has gained significant traction with its monthly active user base reaching 62 lakhs. This app is a one-stop solution for customers seeking healthcare, education, and entertainment services.    

Banglalink’s service revenue in 1Q23 grew by 18 per cent YoY, maintaining its double-digit growth for 4 consecutive quarters. Banglalink’s data revenue increased by 35 per cent YoY in 1Q23. The company also reached a significant milestone by achieving a subscriber base of 4 crores. 

Furthermore, according to a report published by the Bangladesh Telecommunication Regulatory Commission (BTRC) in March 2023, Banglalink continued to gain the most subscribers among all operators in the country as per month-on-month, quarter-on-quarter, and year-on-year counts.

This growth trajectory is a testament to Banglalink’s commitment to becoming a national operator, by expanding network coverage and offering innovative digital services. 

Banglalink also won the Ookla® Speedtest Award™ as the Fastest Mobile Network in the country for the 6th consecutive time in the last 3 years.

Erik Aas, chief executive officer, of Banglalink, said, “Banglalink, as a digital operator, got off to a strong start this year with continued double-digit growth. One of the key factors to this consistent success is our digital operator strategy, aimed at creating a new digital ecosystem with the introduction of innovative digital services.

“Our transformation to a national operator also played a role in maintaining the growth momentum. Millions of customers from all over the country are now choosing Banglalink as their preferred operator because of our improved 4G network availability and diverse digital services portfolio.”

As Banglalink advances along its digital ambitions, the company pledges to strive towards maintaining the highest network speed in the country by expanding its 4G footprint nationwide.

Furthermore, Banglalink aims to maintain its position as a key player in driving the development of Bangladesh’s promising digital landscape.