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Bangladesh's Grameenphone revenue reaches 1.32 bln USD in 2014

Xinhua, February 10, 2015 Adjust font size:

Bangladesh's biggest mobile phone operator Grameenphone (GP) has reported revenue of 102.7 billion taka (about 1.32 billion U.S. dollars) for 2014, up 6.3 percent from last year.

The company, which is listed on the Dhaka Stock Exchange in Bangladesh, Monday in a press briefing in Dhaka said its service revenue grew by 5.9 per cent year on year along with 14.1 percent year on year growth in customer equipment and other revenues.

Growth in service revenue was mainly driven by data and VAS, it said and added that service revenue growth faced some headwind from reduction in international call termination rates.

During the year, Grameenphone officials said that the operator acquired 4.4 million new subscriptions, taking the year-end subscription base to over 51 million.

With 51.5 million customers at the end of December last year, they said GP, 55.8 percent owned by Norwegian telecom company Telenor and 34.2 percent owned by local Grameen Telecom, is the largest telecom operator in Bangladesh and has a strong legacy of providing mobile services to all parts of the country.

With 9.3 percent growth in subscriber against industry growth of 5.8 percent, the company managed to improve its market share by 1.4 percentage point to 42.8 percent, showed the Grameenphone financial results unveiled in a press briefing here on Monday. Strong and vibrant presence in the market amidst competitive environment contributed to this position, it noted.

"It is my immense pleasure to inform our honorable shareholders that in 2014 we achieved two monumental milestones of crossing 50 Mn subscriber base and 100 billion taka revenue for the company," Rajeev Sethi, newly appointed CEO of Grameenphone Ltd, said in the press briefing.

"During the year, we managed to consolidate our position as the leading mobile operator and have taken ambitions to excel further in 2015. Structured approach of building on our strengths, applying the right mindset and executing our strategy will further contribute to adding value for our shareholders."

The financial results showed net profit after taxes for 2014 was 19.8 billion taka with 19.3 percent margin compared to 14.7 billion taka with 15.2 percent margin of 2013.

Sethi said Grameenphone is very unlikely to suffer a setback in its growth momentum unless Bangladesh's ongoing political situation persists for a long period of time. "Hope political uncertainty in Bangladesh will soon be resolved."

The company invested 15.2 billion taka during the period for fast track 3G rollout throughout the country, 2G coverage as well as capacity increase and other efficiency enhancement initiatives.

GP, the largest contributor to exchequer, paid 58.9 billion taka, comprising 57.4 per cent of total revenue to the national exchequer during the period in the form of taxes, VAT, duties and license fees.

From cultural enrichment to facilitating digital entrepreneurship and standing beside the underprivileged in society, Grameenphone has also made significant contribution in 2014 towards using connectivity to enlighten and empower society and prepare the nation's youth for a better tomorrow.

GP was set up in March of 1997 by 2006 Nobel peace prize winner, Bangladeshi Muhammad Yunus. (1 U.S. dollar equals to 78 taka) Endi