Grameenphone Profit Surges to Tk 2,720 Crore

Industry: Telecom, Telecom & Mobile
Company: Grameenphone Limited (GP)
Company Intelligence Tag: Business Insights

Grameenphone reported a 3.12% year-on-year increase in profit, reaching Tk 2,720.63 crore in the first nine months of 2023, compared to Tk 2,638 crore in the same period in 2022. This growth led to an increase in earnings per share (EPS) from Tk 19.54 to Tk 20.15 during this period, as per audited financial statements.

However, in the third quarter of 2023, Grameenphone’s profit decreased by 17.68% year-on-year, dropping to Tk 747.15 crore. This decline in profitability caused a reduction in the EPS from Tk 6.72 in Q3 2022 to Tk 5.53 in Q3 2023.

Despite the dip in profitability in the third quarter, Grameenphone continues to be the largest operator in Bangladesh in terms of revenue, coverage, and subscriber base, with 8.13 crore voice clients and 4.61 crore data customers as of June 2023. The company’s financial performance reflects a mix of growth and challenges in the highly competitive telecommunications industry.

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