GP Revenue Grows 10% In Q2
Friday, 24 July 2009

Top mobile operator Grameenphone's revenue has grown 10 percent to Tk 1,628 crore in the second quarter of this year from Tk 1,477 crore in the same period last year.

"The increasing revenue-growth trend … demonstrates that the management is willing to make the right changes at the right time to bolster the company during the pause in the economy," Grameenphone CEO Oddvar Hesjedal said in a statement on Thursday.

The company's cumulative investment now stands at Tk 14,400 crore including Tk 480 crore in 2009.

Revenue rose with the growth in the number of subscribers, and a higher average price per minute, said GP.

It was also boosted by interconnectivity revenue after introduction of international gateway in Bangladesh, which were partly offset by reduced fees on local interconnect calls.

Grameenphone added 106,000 subscribers during the second quarter but still saw a slight decline in subscription market share to 45 percent, the statement said.

The company has adjusted its investment in network with the current growth in subscriptions and traffic volumes.

Following the reduction in local interconnection rates in the previous quarter, the Bangladesh Telecommunication Regulatory Commission lowered the international call termination rate to minimum USD 0.03 from USD 0.04, with effect from May 19.

Telenor chief says GP going strong

Jon Fredrik Baksaas, president and CEO of Telenor, GP's parent company, said in a statement from Fornebu that Grameenphone, among its subsidiaries, was delivering a
"particularly strong quarter, both in terms of revenue growth and Margins".

Earlier this month, the Securities and Exchange Commission gave formal approval for Grameenphone's long-awaited IPO.

The approval was subject to satisfactory and successful completion of certain conditions, including changing the denomination of shares from Tk 1 to Tk 10, and incorporating the audited financial statements for 2008 in the IPO Prospectus.

The Grameenphone IPO will be by far the largest IPO ever completed in Bangladesh.


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