Bangladesh-based Grameenphone recorded profit growth in Q3 and an increase in ARPU, despite a decline in subscribers caused by a ban on SIM sales.

In mid-September, the telecoms regulator partially lifted the ban, which was imposed at end-June due to quality of services issues.

Grameenphone CEO Yasir Azman explained in the operator’s earnings statement it had continued to invest in its network rollout to meet demand for high-speed connectivity and improve the customer experience.

Net profit increased 5.8 per cent year-on-year to BDT9.1 billion ($89.3 million), fuelled by lower modernisation costs, which was partially offset by higher depreciation expenses stemming from new site acquisitions and finance fees related to a devalued local currency.

Grameenphone noted ARPU grew 5.9 per cent to BDT152 in the face of macroeconomic and regulatory challenges.

Revenue grew 6.7 per cent to BDT38.6 billion, with data up 7.7 per cent to BDT9.8 billion.

Capex of BDT2.8 billion was 47.4 per cent higher.

Total mobile subscribers fell 2.1 per cent to 81.8 million. It added 4.4 million LTE users to end September with 32 million.