GP posts Tk 139.6 billion revenue for 2020
Published : 28 Jan 2021, 19:12
Country’s leading mobile phone operator, Grameenphone reported total revenue of Taka 139.6 billion for the year 2020, registering a 2.8 percent annual de-growth.
The operator acquired 2.6 million new subscribers during the year, having grown 3.4 percent from the end of the previous year. Total subscribers at the end of 2020 stood at 79.0 million, of which 41.3 million or 52.2 percent are using internet services.
“Economic recovery in the fourth quarter was lower-than-expected, impacting us in a year full of unprecedented challenges amidst the COVID-19 pandemic,” said Yasir Azman, CEO of Grameenphone while releasing this financial update issuing media release.
“During the fourth quarter, we reached more than 14,000 4G sites and witnessed a promising growth of 65.6 percent in 4G users, ending 2020 with 19.8 million customers empowered with 4G which is a major milestone while entering 2021,” he said.
Grameenphone is reporting a year over year de-growth of 3.7 percent in total revenues for the fourth quarter of 2020.
A solid operational performance despite economic uncertainty with strong acquisition drive led to 1.4 million new subscribers in the fourth quarter.
Net profit after tax for the period stood at Taka 10.3 billion with 29.7 percent margin. In 2020, data revenue increased by 14.0 percent while data usage grew by 60.6 percent compared to the previous year.
“We are pleased to announce that the Board of Directors has recommended a final dividend of Taka 14.5 per share for our honorable shareholders,” said Jens Becker, CFO of Grameenphone.
The Board of Directors has recommended Taka 27.5 dividend per share for the full year 2020 based on the decision taken at the board meeting held on 27 January 2021.
With this, the total cash dividend stands at 275 percent of paid-up capital which represents 99.86 percent of profit after tax for the year 2020 (including 130 percent interim cash dividend).
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