Home National Banglalink posts 15% revenue growth in Q3

Banglalink posts 15% revenue growth in Q3

by fstcap

Banglalink’s revenue grew 15.1 percent year-on-year to Tk 1,588 crore in the third quarter of this year, driven by robust sales in the data segment.

The mobile network operator has consistently demonstrated robust performance by achieving double-digit revenue growth for six consecutive quarters, including this quarter.

The data revenue of the third largest operator grew by 27.7 percent year-on-year in the July-September period, which was aided by 15.4 percent growth in data usage.

According to its parent Veon, successful network rollout and continued expansion of digital services supported this performance.

Besides, Banglalink also reported its third consecutive quarter of double-digit growth in earnings before interest, taxes, depreciation and amortisation.

“Banglalink’s consistent growth is a testament to our dedication to driving innovation in digital services,” Erik Aas, chief executive officer of Banglalink, said while unveiling the financial statement for the third quarter in its office in Dhaka.

Banglalink is increasingly positioning it as a telecom operator to a digital service provider with the country’s leading entertainment application and OTT platform Toffee, which has audio and video streaming services accessible to users of all mobile operators.

Toffee became the number one platform in all categories in Google’s PlayStore on the back of the attention to the Asia Cup 2023 which was live-streamed in August through September 2023, and reached 12.1 million monthly active users in the quarter.

Toffee also live-streamed the recently concluded ICC Men’s Cricket World Cup 2023.

“The company’s position as the country’s credible national player is reinforced by its commitment to providing superior digital services, supported by the nation’s fastest 4G network. Now, we look forward to being a growth partner of the country and contributing to its digital transformation,” said Aas.

Banglalink increased its customer base and gained market share in the third quarter, recording a 31.1 percent growth in its 4G user base, which reached 19.6 million.

It had now about 42.85 million customers as of September.

The solid performance comes as the operator has recently entered into an agreement to sell one third of the tower portfolio to Summit Towers for Tk 1,100 crore.

Banglalink has recently paid a part of the audit claim of the telecom regulator, which is Tk 165.7 crore.

Taimur Rahman, chief corporate and regulatory affairs officer, and Cem Velipasaoglu, chief financial officer, were also present at the event.

source: thedailystar.net


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