Dhaka: Oct 28, 2024: Grameenphone Ltd. has announced a revenue of BDT 39.5 billion for Q3 2024, marking a 3.8% year-over-year decline as the company navigated a quarter fraught with economic hurdles, political instability, and severe natural disasters. Despite these challenges, Grameenphone maintained a strong operational performance, with a subscriber base of 84.6 million, of which 58.3% (or 49.3 million) actively use internet services.
The company recorded a net profit after taxes of BDT 7.6 billion, reflecting a net profit margin of 19.1%. Additionally, Grameenphone achieved an EBITDA margin of 58.7%, with earnings per share standing at 5.59. Capital expenditures for the quarter, excluding licenses, leases, and asset retirement obligations, totaled BDT 3.9 billion, emphasizing Grameenphone’s commitment to long-term growth and sustainability.
Yasir Azman, CEO of Grameenphone Ltd., highlighted the company’s resilience through what he described as an "exceptionally challenging quarter," including days of internet shutdowns and floods that disrupted business. "We guided our customers on essential services and emergency solutions, helping them stay connected during these critical times," Azman noted. He also emphasized Grameenphone’s commitment to sustainable practices, reporting that 72% of the company's supplier spending now goes to partners actively working to reduce their carbon footprint.
Otto Risbakk, Grameenphone’s CFO, reinforced the company's stable financial foundation, noting, "Our EBITDA of 23.2 billion, despite an 8.7% drop, showcases our capacity to weather economic difficulties. Our strong balance sheet allows us to pursue investments and innovation with a long-term outlook, ensuring continued value for shareholders."
Grameenphone remains focused on collaboration with government institutions to foster a more sustainable and pro-innovation environment in Bangladesh’s rapidly evolving digital sector.
Source: https://www.grameenphone.com/about/media-center/press-release/third-quarter-2024-resilient-performance-challenging-environment