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Grameenphone returns to topline growth supported by enhanced customer experience and digitalization

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Grameenphone Ltd. reported total revenues of BDT 3,576 crore for the second quarter of 2021, registering an 8.1% growth from the same period last year. The company acquired 13 lakh new subscribers msubscribers, or 53.3% of total subscribers, are using internet services.

“Our effort in enhancing customer experience and digitalization resulted in more subscribers choosing Grameenphone and an increase in data usage in the second quarter. Following the extensive expansion of 4G to all our towers in the first quarter, Grameenphone has focused on deploying the newly acquired spectrum and continued rolling out new sites. These efforts have enabled us to enhance the experience for our customers, meeting the demand for high-speed internet, while keeping our commitment to support the digitalization of Bangladesh. 4G Data users increased by 23 lakh, growing by 56.5% YoY while digital recharge increased by 14.5%. Grameenphone marks its return to topline growth in the second quarter of 2021 amidst the COVID-19 pandemic.” said Yasir Azman, CEO of Grameenphone Ltd.

He said, “The volatilities related to the pandemic has worsened as the latest wave of COVID-19 has been the deadliest yet for Bangladesh, triggering the authorities to enforce a stricter lockdown from July. As a recognized emergency service provider, we are navigating challenges by working relentlessly with our partners, stakeholders, law enforcement and local communities while prioritizing health and safety for our employees, partners and customers. In our commitment to stand beside the people of Bangladesh, Grameenphone is aiming to provide food assistance to families who have been severely impacted by COVID-19 in a joint initiative with BRAC.”

“The improving momentum from the beginning of 2021 has translated into growth in the second quarter as our subscription and traffic revenues grew by 8.5% from last year. Data usage per customer increased by 38.6% while there was a 7.0% YoY growth in data users. We ended the quarter with an 8.1% growth in total revenues with an EBITDA margin of 62.0%. Net profit after tax for the period stood at BDT BDT 851 crore with 23.8% margin.” said Jens Becker, CFO of Grameenphone Ltd. “We are pleased to announce that the Board of Directors have recommended an interim dividend of BDT 12.5 per share for our honorable shareholders at the board meeting held on 14 July 2021.”

During the second quarter of 2021, Grameenphone Ltd invested BDTBDT 518.5 crore for network coverage. Grameenphone’s total number of sites stands at 17,416. The company has paid BDT BDT 5,450 crore equaling 77.2% of its total revenues, to the national exchequer in the form of taxes, VAT, duties, fees, 4G license and spectrum assignment in the first half of 2021.

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