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GP's full-year profit falls by 12pc on SIM-sale ban

Published : Thursday, 2 February, 2023 at 12:00 AM  Count : 499

Grameenphone's profit has fallen 12 percent year on year to Tk 30.1 billion in 2022 as the regulatory

ban on sales of SIM cards hurt the mobile phone operator's subscriber growth for the second half of

the year.

Its subscriber base shrank 5 percent to 79.1 million at the end of 2022. The number of subscribers who

used Grameenphone's internet services also fell by 2.2 percent to 43.6 million, according to the

company's financial statement released on Tuesday.

The company's revenue grew 5.1 percent to Tk 150.4 billion in 2022 from a year earlier, but its net

profit for the fourth quarter was adversely impacted by a forex loss and "negative verdict of legacy

litigation", CFO Jens Becker said in a statement.

The Board of Directors of Grameenphone has recommended Tk 9.5 in final cash dividend per share.
The Bangladesh Telecommunication Regulatory Commission barred the sales of new SIMs by Grameenphone,

citing the "poor quality" of the carrier's services on Jun 29, 2022.

The regulator lifted the ban after six months, clearing the way for Grameenphone to acquire new

customers.

Grameenphone, the Bangladesh unit of Norway's Telenor, has remained the largest mobile phone operator

in the country despite the ban on sales of its SIM cards. The Supreme Court had ordered the private

mobile operators to pay a total of Tk 23.55 billion in various types of fees and value-added tax

earlier in January. Grameenphone alone will have to pay Tk 11.65 billion.    �bdnews24.com








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