Grameenphone Reports Revenue Decline in Final Quarter of 2024

Grameenphone Limited recorded a total revenue of Tk 3,735 crore in the last quarter of 2024, marking a 7.2% decline compared to the same period in the previous year. By the end of the fourth quarter, the company’s total subscriber base stood at 84.3 million, of which 48 million were active internet users.

The telecom operator disclosed these figures in a press release on Tuesday. Commenting on the financial performance, Grameenphone’s Chief Financial Officer Otto Risbak stated, “Compared to previous years, our total revenue declined by 4.9% in 2024, while revenue from subscriptions and traffic fell by 4.6%. This was primarily due to macroeconomic conditions and high inflation, leading to more cautious data consumption by customers. We remain optimistic that as the economy stabilizes and the use of mobile handsets and data increases, our revenue will gradually improve. Efficient operational management and proper capital allocation have resulted in an EBITDA of Tk 9,623 crore in 2024, with an EBITDA margin exceeding 60%. Due to the one-time impact in the fourth quarter of last year, our post-tax net profit increased by 15% compared to the previous year.”

He further added, “A strong balance sheet has allowed us to plan long-term investments even amid a challenging economic environment. This has also laid the foundation for an attractive and predictable dividend policy. The board has declared a final dividend of Tk 17 per share for 2024. Earlier, following the second quarter, we provided a dividend of Tk 16 per share. As a result, the total dividend payout for 2024 amounts to Tk 4,455 crore, which is 122.73% of the post-tax net profit.”