Shares of Grameenphone gained on the Dhaka bourse after the company reported that its earnings per share in 2020 rose 7.8 percent year-on-year to Tk 27.54.
The stock closed 0.94 percent higher on Thursday, after extending the gains for the second day.
The fourth quarter of the year experienced a decent season of earnings, thanks to lower costs of finance and tax expenses.
Grameenphone, the largest company by market value in Bangladesh, disclosed that its net profit rose 12.3 percent to Tk 10.3 billion in the fourth quarter from a year earlier, according to its website. But its net operating cash flow deteriorated amid the coronavirus pandemic.
Grameenphone has reported Tk 139.6 billion in full-year revenue, registering a 2.8 percent drop amid the economic uncertainty caused by the pandemic.
The country’s largest mobile operator acquired 2.6 million new subscribers during the year, marking 3.4 percent year-on-year growth, the company said in a statement on Thursday.
Grameenphone’s subscriber base stood at 79 million at the end of 2020, of which 41.3 million, or 52.2%, are using internet services.
“During the fourth quarter, we reached more than 14,000 4G sites, and witnessed a promising growth of 65.6% in 4G users, ending 2020 with19.8 million customers empowered with 4G, which is a major milestone while entering 2021,” said Yasir Azman, CEO of Grameenphone.
“Economic recovery in the fourth quarter was lower than expected, impacting us in a year full of unprecedented challenges amidst the COVID-19 pandemic.”
Source: bdnews24.com
