Bangladesh-based Grameenphone recorded positive growth momentum in revenue and subscribers in Q1, which it credited to network investment and modernisation initiatives.
In a statement, CEO Yasir Azman noted it continued to prioritise network and spectrum rollouts. The programmes are focused on automating administrative and technology functions.
“Our ongoing modernisation and transformation journey is starting to show results.”
Net profit fell 9.1 per cent year-on-year to BDT8.1 billion ($93.7 million), attributed to one-off modernisation costs and currency devaluation. Revenue rose 4.4 per cent to BDT36.3 billion.
Overall service ARPU was flat at BDT143, with lower voice revenue offset by a higher contribution from the bundle and data segment.
Data revenue rose 7.5 per cent, driven by 76.8 per cent growth in usage.
Mobile subscribers increased 3.7 per cent to 83.7 million, with data users rising 6.8 per cent and accounting for 53.2 per cent of the total compared with 51.7 per cent in Q1 2021.
LTE subscribers increased 33.9 per cent to 28.7 million.
Capex rose to BDT3.9 billion from BDT3.6 billion. The operator added 1,900 new base stations taking its total to 18,700.