First Quarter 2022: Positive growth momentum as a result of investment in network and acceleration of modernization initiatives

Apr 27 2022

[Dhaka, April 27, 2022] Grameenphone Ltd. reported total revenues of BDT 3,633.52 crore for first three months of 2022, registering a growth of 4.4% from the same period last year. In the first three months, the Company acquired 5 lac new subscribers, reaching 8.37crore total subscribers at the end of the first quarter. 53.2% of Grameenphone’s total subscribers, or 4.46crore, are using internet services, growing by 6.8% from the same period last year.

“The first quarter of 2022 has been monumental on several occasions for Grameenphone. On 26th March, Grameenphone completed 25 years of operations in Bangladesh, marking our contribution to empowering societies and commitment to continue playing our role as the digital connectivity partner to Bangladesh. The regulator held the country’s largest spectrum auction in March, where Grameenphone participated and bid for the maximum allowable 60 MHz of 2.6 GHz spectrum. Very recently, Grameenphone also launched e-sim for the first time in the country, allowing customers to opt for mobile connectivity without the need for a physical sim card in their handsets.” said Yasir Azman, CEO of Grameenphone Ltd.

“As we enter the third year of the global COVID-19 pandemic, the situation in Bangladesh remains steady, as the economy regained momentum with very low cases being registered in the country. Throughout the quarter, we continued to prioritize network and spectrum rollout, leading to improved and enhanced experience for our customers. As a result, our subscribers grew to 8.37crore at the end of the first quarter. Our ongoing modernization and transformation journey is starting to show results, benefiting us in building a future-fit company with the right mix of competency, capabilities, tools and partnerships, and will continue to serve as an enabler for our future growth. ”

“The first three months of 2022 saw an improving topline growth coupled with continued growth in EBITDA. Total revenues grew by 4.4% YoY, amounting to BDT 3,633.52 crore for the quarter. Subscription and traffic revenues for the quarter grew by 4.6% from the same period last year.  Data revenue grew by 7.5% YoY while data usage grew by 76.8%.” said Jens Becker, CFO of Grameenphone Ltd. “EBITDA for the first quarter grew by 1.7% from the same period last year while EBITDA margin stood at 61.1%. Net Profit After Tax was negatively impacted by modernization cost and currency devaluation, and stood at BDT809.82 crore  declining by 9.1% from the same period last year. Net Proft margin for the first quarter of 2022 stood at 22.3%.”

During the first quarter of 2022, Grameenphone Ltd invested BDT391.94 crore for network coverage and expansion. At the end of the quarter, Grameenphone’s total number of sites stood at 18,724. The company has paid BDT 2,300 crore equaling 63.3% of its total revenues, to the national exchequer in the form of taxes, VAT, duties, fees, 4G license and spectrum assignment during the first three months of 2022.


Tazriba Khurshid

Corporate Communications Manager


Phone: 8801711092233


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.