Compared to the same period last year, Grameenphone Limited, a listed mobile operator, has earned a revenue of Tk 3,932.9 crore in the first quarter of this year, an increase of 5.3%. With 10 lakh new subscribers in the first three months, Grameenphone’s total subscriber base stood at 8 crore 30 lakh at the end of the first quarter. 55.8% percent or 4 crore 63 lakh customers of Grameenphone are using internet service.
Grameenphone Chief Executive Officer (CEO) Yasir Azman said, “Despite the overall economic situation, we have continued to invest unwaveringly in our operations. In addition to strengthening partnerships, we have further consolidated our operations. All these have contributed to this success today. Digital infrastructure should be built to transform from Telco to Telco-Tech company. In line with this, we are relentlessly building digital assets and working through strategic partnerships with digital players.
He further said, with the determination to build a Smart Bangladesh, we have inaugurated our first Tier III Standard Data Center in Sylhet, which has added a new dimension to the network as a technological marvel. Also, to ensure unique home internet services, we have launched wireless broadband solution ‘GPIFI’, a holistic solution for families who want to enjoy uninterrupted connectivity and digital entertainment. Our belief in achieving the Sustainable Development Goals is not limited to ourselves. We are strategically partnering with organizations that actively support our values and environmental, social and governance (ESG) initiatives.
Grameenphone Chief Financial Officer (CFO) Otto Riesback said, “We are pleased with our continued business progress in the first quarter of 2024. The first quarter results reflected our positive financial growth. With this, Grameenphone has maintained significant financial progress and growth in terms of EBITDA for twelve consecutive quarters. The subscription and traffic revenue rate reached 5.2 percent and EBITDA margin reached 60.8 percent in the first quarter due to good operational planning and maintaining strict financial discipline. Our strong balance sheet and cash flow have enabled us to sustain growth and continue investing in innovation. Also laid the groundwork for an attractive dividend announcement.
Grameenphone has made a capital investment of Tk 717.3 crore in the first quarter of 2024 (excluding licenses, leases and AROs) in the first quarter of 2024, mainly for the deployment of 4G network and expansion of fiber connectivity as well as expansion of 2600 MHz spectrum. Grameenphone has launched more than 500 new 4G sites in the last three months, including new coverage sites. By the end of the first quarter of 2024, the total number of Grameenphone 4G sites is more than 21700, through which 97.9 percent of customers have come under the 4G service.
