Grameenphone (GP) posted a profit growth by 1.1 per cent to Tk 760 crore in the third quarter (July-September) of the current calendar year 2024.
However, the company, reported a decline in its revenue in the same quarter due to political turmoil and floods in the eastern part of the country.
An internet shutdown amidst a student upsurge against the previous government caused a big decline in its data revenue.
The top telecommunication company's total revenue dropped 3.8 percent to Tk 3,950 crore in the third quarter of the year.
At the same time, its profits advanced 1.1 percent to Tk 760 crore, according to the financials of the company.
Meanwhile, stocks of the multinational company soared to Tk 379 after the fall of the Sheikh Hasina-led government. Later it saw a correction. Yesterday, it rose 2.17 percent to Tk 311.
Yasir Azman, Chief Executive Officer of GP, said this quarter has been challenging across various fronts -- economically, politically and through natural disasters.
Despite these difficulties, the company has achieved well-managed financial and operational trends while maintaining its investment in strategic growth areas, he added.
Political unrest had a significant impact on data usage, with average revenue per user declining 7.5 percent year-on-year.
During the quarter, GP secured 5.9 GB of average data usage per user, which was 17 percent lower from the same period last year.
The company's operational costs increased 4.5 percent to Tk 1,380 crore year-on-year.
It was mainly due to an increase in business costs during the unrest period and extraordinary costs from re-establishing network in the flood affected regions, the company said in its financial highlights.
"As the industry leader, we must collaborate closely with government institutions and policymakers," he said.
