First Quarter 2021: Recovering momentum with strong market execution

Apr 20 2021

[Dhaka, 20 April,2021] Grameenphone Ltd. reported total revenues of BDT 3,481.26 crore for the three months of 2021, registering a 3.7% annual de-growth.

The company acquired 17 lakh new subscribers during the same period, ending the period with 8 crore 7 lakh subscribers, a 7.2% year over year growth. 4 crore 17 lakh subscribers, or 51.7% of total subscribers, are using internet services.

“Several significant milestones were achieved in the first three months of 2021. With the acquisition of 10.4 MHz spectrum, Grameenphone holds 47.4 MHz of spectrum. As the country embarks on 50 years of independence, Grameenphone marks its 24-year-long journey and has reaffirmed its commitment of empowering the nation with Bangladesh’s widest 4G/LTE network comprising of 15,590 towers. During the first quarter we acquired 17 lakh subscribers crossing the 8 crore milestone, while with a YoY growth of 50.7%, we reached 2.15 crore 4G users.” said Yasir Azman, CEO of Grameenphone Ltd. “With focus on our strengths in market execution, innovation, driving simplification and bringing convenience to customers, we are committed to using our technology expertise in building capabilities and digital enablement. We are also faced with increased volatilities as Bangladesh faces its worst yet wave of COVID-19. Our efforts will continue in devising collaborative solutions in supporting recovery from the pandemic while we will continue to enrich our service propositions and facilitate the country towards growth and digitalization.”

“We started 2021 with improved momentum as we continued roll out with 1510 4G sites, strong execution in the market leading to higher subscriber acquisition YoY and 3.4% growth in data users. As we approached the one-year mark of COVID-19 in Bangladesh, the increasing detection rate led to the current strict restrictive measures taken by the government.” said Jens Becker, CFO of Grameenphone Ltd. “At the end of the quarter we reported a year over year degrowth of 3.7% in total revenues keeping the EBITDA margin at 62.7%. Net profit after tax for the period stood at BDT 890 crore with 25.6% margin.”

During the first quarter of 2021, Grameenphone Ltd. acquired 10.4 MHz spectrum. Capex investment stood at BDT 361 crore (excluding license & lease) for network coverage. Grameenphone’s total number of sites stands at 16,852. The company has paid BDT 2,732 crore equaling 78.5% of its total revenues, to the national exchequer in the form of taxes, VAT, duties, fees, 4G license and spectrum assignment in the first three months of 2021. 


Md Hasan,

Head of External Communications


Phone: 8801711082469


About Grameenphone Ltd.

Grameenphone, part of the Telenor Group, is a leading telecommunications service provider in Bangladesh with more than 80 million subscribers. Since its inception in 1997, Grameenphone has built the largest cellular network in the country, covering nearly 95 percent of the country’s population. With its brand promise to enable customers to “Go beyond,” Grameenphone seeks to help customers get the full benefit of mobile data and voice services and provide Internet For All. Grameenphone is listed on the Dhaka Stock Exchange.