Grameenphone declares high profit margin

Grameenphone has declared high profit for the first half of the year. In the second quarter Grameen Phone net profit cross 1k core taka.

Grameenphone Limited, country’s largest mobile phone operator, on Tuesday announced 95% interim cash dividend for its shareholder too. “Board of Directors of the Company has declared 95% interim cash dividend for the year ending on 31 December 2014, out of the provisional net profits of the Company for the half-year ended on 30 June 2014 and retained earnings as of 31 December 2013,” said a media note of the Dhaka Stock Exchange (DSE). The Company has also reported net profit after tax of Tk 10,601.27 million, EPS (earnings per share) of Tk 7.85 and NAV (net asset value) per share of Tk 25.91 for the half-year ended on 30 June 2014.

The Company has set August 5 as record date for entitlement of interim dividend. There was no price limit on the trading of the shares of the Company today following its corporate declaration. “I am delighted to inform our honorable shareholders that GP managed another growth quarter as indicated last time, giving the first half a solid base to finish 2014 with a healthy performance,” said Vivek Sood, CEO of Grameenphone Ltd. Stable political environment, improving economic activities and GP’s strong traction in the market contributed to this elevated performance, he told a press conference at Ruposhi Bangla Hotel in the city.

The growth is accredited by increased voice outgoing from acquisition, data revenue from 3G as well as 2G, SMS and content services. During the quarter, GP acquired 0.6 million net subscriber addition, taking the year-end subscription base to 49.23 million with 42.1 percent subscription market share.