Grameenphone says Jan-Mar political unrest hurt its business

Grameenphone says Jan-Mar political unrest hurt its business


Political unrest in the first three months of the year hit Grameenphone’s business, the mobile-phone operator says.Chief Executive Rajeev Sethi released the company’s financial statement for January-March period at a press conference at The Westin on Monday.

“The year began with political unrest, which continued for three months. Our business has been impacted as Bangladesh’s economic activities came to a standstill due to it,” he said.“We’ve had a rough start to the year due to political turmoil and intense competition,” he added.The CEO said Grameenphone earned a post-tax net profit of Tk 5.4 billion with 21.3 percent margin in the quarter compared with Tk 5.2 billion with 20.7 percent margin of the previous corresponding period.The figure represents a 1 percent increase over the same previous period but a 3 percent fall over the October-December quarter.Sethi expects a better time for Grameenphone after the political unrest is over.“We are optimistic regarding our ongoing initiatives under usability experience and network superiority in revitalising the business performance,” he said.The Grameenphone CEO said during the quarter, the operator roped in 0.5 million new users, taking the year-end subscription base to 52 million.The figure constitutes 6.8 percent year-on-year subscription growth with a SIM market share of 42 percent.Data subscribers number was 11.08 million with ‘encouraging volume growth’, he said.


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