Grameenphone profit jumps 72% in Jan-Mar
As per the report, Grameenphone achieved such growth in profit as its income tax expenses dropped by 78% during the quarter.
The country's largest telecom operator Grameenphone has reported a 72% jump year-on-year in its net profit to Tk1,338 crore in the January-March quarter of the calendar year 2024.
The company disclosed its financial statement for the first-quarter at a meeting on Wednesday (24 April).
According to the report, Grameenphone achieved such growth in profit as its income tax expenditure dropped by 78% during the quarter.
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In the quarter, its income tax expenditure stood at Tk131 crore, which was Tk599 crore in the same period of the previous year.
Grameenphone's revenues also grew by 5% to Tk3,933 crore from Tk3,735 crore compared to one year ago.
Of this, Tk3,879 crore revenue came from contracts with customers and Tk54 crore as lease revenues.
Most of the revenues came from mobile communication through prepaid customers.
At the end of March, its earnings per share were Tk9.91, which was Tk5. at the same time 77 one year ago.
During the July-March quarter, the telecom operator's total expenses decreased by 12% thanks to a decrease in tax expenses.
The net change in cash and cash equivalents also decreased by 20% mainly due to higher payment of dividends, payments to suppliers, and income tax payments which are partially offset by higher cash receipts from the customers and short-term loans.
Its net asset value (NAV) increased by 20% at the end of March this year, driven by a profit growth compared to that of the earlier quarter.
On Thursday (25 April), the share price of Grameenphone increased by 1.08% to Tk235 on the Dhaka Stock Exchange.
Grameenphone was listed on the stock exchanges in 2009 by offloading 10% of its shares to investors.
