GP reports Tk 139.6bn revenue for 2020

Country’s leading mobile phone operator, Grameenphone reported total revenue of 139.6 billion taka for the year 2020, registering a 2.8 per cent annual de-growth.

The operator acquired 2.6 million new subscribers during the year, having grown 3.4 per cent from the end of the previous year. Total subscribers at the end of 2020 stood at 79.0 million, of which 41.3 million or 52.2 per cent are using internet services.

“Economic recovery in the fourth quarter was lower-than-expected, impacting us in a year full of unprecedented challenges amidst the Covid-19 pandemic,” said Yasir Azman, CEO of Grameenphone while releasing this financial update issuing a media release.

“During the fourth quarter, we reached more than 14,000 4G sites and witnessed a promising growth of 65.6 per cent in 4G users, ending 2020 with 19.8 million customers empowered with 4G which is a major milestone while entering 2021,” he said.

Grameenphone is reporting a year over year de-growth of 3.7 per cent in total revenues for the fourth quarter of 2020.

A solid operational performance despite economic uncertainty with strong acquisition drive led to 1.4 million new subscribers in the fourth quarter.

Net profit after tax for the period stood at 10.3 billion taka with 29.7 per cent margin. In 2020, data revenue increased by 14.0 per cent while data usage grew by 60.6 per cent compared to the previous year.

“We are pleased to announce that the Board of Directors has recommended a final dividend of 14.5 taka per share for our honourable shareholders,” said Jens Becker, CFO of Grameenphone.

The Board of Directors has recommended 27.5 taka dividend per share for the full year 2020 based on the decision taken at the board meeting held on 27 January 2021.

With this, the total cash dividend stands at 275 per cent of paid-up capital which represents 99.86 per cent of profit after tax for the year 2020 (including 130 per cent interim cash dividend).

(BSS)