Grameenphone Posted 29.7% YoY Profit Growth In Q2’23

Grameenphone, the leading telecom operator in the country, has posted another strong quarterly result in terms of profit. Despite modest growth in revenue, the company was able to increase its profit by 29.7% YoY to Tk 11,938 million in Q2’23. Profit after tax in Q2’22 was Tk 9,206 million.

In terms of revenue, the company posted a growth of 5.6% YoY. Grameenphone posted revenue of Tk 40,008.1 million in Q2’23 which is mainly driven by the growth in the subscription and traffic segment. The subscription and traffic segment (voice, data, etc.) grew by 5.3% YoY from Tk 35,967 million in Q2’22 to Tk 37,882 million in Q2’23.

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The main contributor in the segment is the data revenue segment which posted revenue growth of 17.9% YoY. Data revenue grew from Tk 9,500 million in Q2’22 to Tk 11,200 million in Q2’23.

Data revenue now contributes to about 28.0% of the total revenue. It was 25.1% in the same period last year.

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ARPU (Average Revenue per User) increased by 10.6% to Tk 163 per customer. AMPU (Average Minute per User) declined by 1.1% to 196 minutes per customer. The decline of AMPU is an industry phenomenon as people are now relying more on OTT services like Messenger, WhatsApp, etc. for communication.

Grameenphone had a difficult quarter in terms of subscribers as total and internet subscribers declined. Mobile subscribers of Grameenphone declined by 4.0% YoY to 81.3 million in Q2’23 subscribers which was 84.6 million subscribers in Q2’22.

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However, total subscribers increased by about 1.2 million compared to Q1’23. Internet subscribers declined by 0.2% YoY to 46.1 million subscribers. However, 4G subscribers increased to 35.3 million subscribers.

Internet consumption kept on showing strong growth which allowed double-digit revenue from the data segment. Internet consumption increased by 32.5% YoY from 5,520 MB per subscriber in Q2’22 to 7,313 MB per subscriber in Q2’23.

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