Grameenphone, country’s largest telecom operator, reported that its profit dropped by 31% to Tk1,513 crore in the first half of this year.
Besides, the board of the company also decided to pay 110% cash dividend as interim dividend to its shareholders. To make the dividend available for shareholders, it set the record date for 13 August.
According to the financial statement published on its website, the earnings per share of the company stood at Tk11.21 in the January-June period.
Its revenue also fell by 3% to Tk7,938 crore compared to the previous year at the same time.
In the April-June quarter, Grameenphone’s profit rose by 2% to Tk879 crore.
Yasir Azman, chief executive officer of Grameenphone, said in a press release, “We have been navigating a challenging economic downturn since the second half of last year, that has put significant pressure on businesses across sectors, including telecom.
Despite the tough macro-economic environment, our strategic measures are starting to yield results. This quarter, robust cost discipline alongside QoQ revenue growth contributed to a 2% improvement in net profit year-on-year.
“As part of our commitment to creating long-term value for our shareholders, we will be maintaining our dividend payouts to provide you with consistent and reliable returns. We are declaring interim dividend of Tk11 per share for the first half of 2025.”
“This year, for the first time in Bangladesh, Hajj pilgrims were able to use their local mobile balance in taka while roaming internationally-a major regulatory milestone achieved through strong industry and government collaboration. One of the key aspects of our transformation journey is digital growth, where we see MyGP continues to be a benchmark for digital platforms in the telecom sector as the largest local self-service app in Bangladesh, now engaging 22.5 million monthly active users.
“Looking ahead, we’re stepping into the future with purpose—and that future is AI-led, it’s not a choice anymore, it’s inevitable. We are equipping our people and leadership team, rethinking our operations, and developing AI-driven models to boost efficiency, drive growth and provide better customer experience,” he added.
https://www.tbsnews.net/economy/stocks/grameenphone-profit-drops-31-h1-declares-110-cash-dividend-1190076
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