Bangladesh’s leading mobile network provider, Grameenphone, reported a decrease in profits during the July-September period of the current fiscal year. The company attributed this decline to heightened sales and operational expenses, along with a larger net finance cost, as revealed in its latest financial report.
In specific numbers, Grameenphone’s profit in the July-September quarter fell to Tk 751 crore, compared to Tk 755 crore from the corresponding period last year. Consequently, its earnings per share also decreased to Tk 5.56 in the three-month period ending in September, down from Tk 5.59 a year earlier.
Despite the profit decrease, Grameenphone saw an increase in turnover to Tk 4,009 crore in the third quarter, marking a 1.4 percent rise year-on-year. The company experienced a 3 percent uptick in operational costs, reaching Tk 2,564 crore compared to Tk 2,489 crore in the same quarter of the prior year.
Furthermore, Grameenphone’s net finance cost rose to Tk 176 crore in the July-September quarter, up from Tk 169 crore in the corresponding period last year.