Grameenphone Posts Rising Revenues on Increased Traffic

Bangladesh’s Grameenphone has reported a 9.4 percent increase in revenues for the third quarter of 2013 of BDT25 billion (US$317 million).

The company said that the growth in revenues was attributed to increased traffic, induced by attractive recharge based campaign and cost cutting promotions

Growth in interconnection minutes, higher device sales and adjacent business also contributed significantly, the company added in a statement to the stock exchange.

During the three months to the end of September, the mobile network added 2.07 million subscriptions, taking the subscriber base to just over 46 million.

Net profit also jumped, to BDT5.7 billion compared to BDT3.2 billion a year ago as the company also increased its profit margin.

‘I am pleased to present the third quarter results to our honorable shareholders, where GP has managed to be in a forward leaning position with revitalized market machinery to secure the fair share of growth being generated from the market”

-Company’s CEO, Vivek Sood

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