GP profits down by Tk 400cr

Grameenphone's profits dropped by around Tk 400 crore in 2022 mainly due to a ban on the sale of its SIM for six months. 

The largest listed telecom company's profit after tax dropped by 11 per cent to Tk 3,010 crore in the year ending recently. It was Tk 3,412 crore in the previous year.

Thus, its earnings per share stood at Tk 22.29 whereas it was Tk 25.28 previously. Its profit margin dropped to 20 per cent in the year which was 24 per cent in 2021.

Though its profits fell, the telecom company's revenue crossed Tk 15,000 crore for the first time. In the previous year, its revenue amounted to Tk 14,306 crore.

On June 29, 2022, the telecom regulator banned Grameenphone's SIM sales until it "improves its quality of service including bringing down call drop rate".

The ban was lifted on January 3, 2023.