Grameenphone revenue Tk 11,756 crore in nine months, profit down Tk 92 crore
The profit of Grameenphone (GP), the country’s leading telecom company, has fallen by Tk 92 crore. In the first nine months of this year (January–September), the company made a profit of Tk 2,172 crore, compared with Tk 2,264 crore in the same period last year — a decline of more than 4 percent year on year. The figures come from the company’s third-quarter financial report.
The financial report was finalised at the company’s board of directors meeting held on Monday. It was published on the company’s website after the meeting.
According to the report, GP did business worth Tk 11,756 crore in the first nine months of this year. In the same period last year, the company’s revenue was Tk 11,948 crore. Revenue has therefore fallen by Tk 192 crore, or more than 1.5 percent, in a year.
Operating profit also declined over the same period. Against revenue of Tk 11,756 crore from January to September this year, Grameenphone made an operating profit of Tk 4,188 crore, compared with Tk 4,297 crore in the same period last year — Tk 109 crore less than the previous year.
The after-tax profit is calculated after deducting tax, bank loan and interest costs, and foreign-exchange gains or losses from operating profit. The report shows that costs for bank loans and interest payments rose this year — Tk 506 crore in the first nine months, compared with Tk 453 crore in the same period last year.
Tax costs, however, fell slightly. In the first nine months of this year, Grameenphone paid Tk 1,503 crore in tax to the government, compared with Tk 1,510 crore in the same period last year — Tk 7 crore less.
Alongside the nine-month figures, Grameenphone also published the July–September quarter’s financial report separately at Monday’s meeting. In those three months, the company did business worth about Tk 4,017 crore, compared with Tk 4,010 crore in the same period last year. At the end of the third quarter, GP’s profit stood at Tk 751 crore — exactly the same as the Tk 751 crore profit in the same period last year. In other words, there was little change in revenue and profit in the third quarter; business was somewhat weaker in the first six months of the year, and that weighed on the nine-month profit.
Although profit fell, the company’s asset value rose. At the end of the first nine months of the year, the market value of GP’s fixed and current assets stood at Tk 20,022 crore, compared with Tk 19,132 crore in the same period last year.
