Grameenphone, the largest mobile phone operator in Bangladesh, reported a profit of Tk 1,338 crore for the first quarter of the financial year 2024, driven by reduced net finance costs and foreign exchange gains. The telecom giant, the most valued scrip in Bangladesh’s stock market, saw a 72% year-on-year profit increase in the January-March quarter, aided by reduced income tax expenses, according to its unaudited financial statement.
Key Highlights:
- Revenue Growth: Grameenphone’s revenue grew by 5% year-on-year to Tk 3,734 crore in Q1.
- Operating Profit: Despite the increase in overall costs, operating profit grew by 3%.
- Finance Costs: The company reduced finance costs by 13% to Tk 108 crore.
- Foreign Exchange Gains: Achieved a 180% gain through foreign exchange transactions.
- Income Tax Expenses: Reported a 78% decline in income tax expenses.
Earnings Per Share
Earnings per share (EPS) rose to Tk 9.91 from Tk 5.77 a year ago.
Market Performance
Grameenphone’s stock closed almost flat at Tk 232.50 on the Dhaka Stock Exchange yesterday.
This earnings report follows Robi Axiata Ltd, the country’s second-largest mobile phone operator, which posted a 153% profit increase to Tk 106 crore for the same period.
