Grameenphone stock price has plummeted marginally today amid flat earnings reported for the second quarter of this year.
Although the company witnessed a strong revenue growth of 6.6% in Q2, earnings per share during the quarter fell to Tk3.77 from Tk3.80 in the same period last year.
Data shows that increased operating expenses contributed to off-setting the revenue – ultimately pulling down the EPS.
GP also announced an interim dividend of 85% or Tk8.5 per share for the year 2016, in line with 80% in 2015 and 90% in 2014.
The stock closed at Tk258 after losing 0.1% by the end of day.
It was the 11th most traded share at Dhaka Stock Exchange today with a turnover of Tk92.8 million.
During the first half, GP acquired 0.2 million new subscriptions, taking the subscription base to 56.9 million.
This constitutes 7.1% subscription growth (YoY) with SIM market share of 43.3% (as of May 2016).
GP acquired a healthy 6.1 million internet users, taking the period end base to 21.8 million.
Grameenphone CEO Rajeev Sethi said the first half of 2016 has been a solid one for the company with strong growth momentum in place.
Data continues to grow with healthy user addition and volume consumption, he told a press conference at GP House in Dhaka today.
“We completed rollout of 10,000 3G sites, taking the population coverage to 90%,” Rajeev said. “Our voice revenue is also growing with encouraging minutes of usage. This will help us in maintaining the momentum as we move forward.”
Dilip Pal, chief financial officer (CFO) of Grameenphone said: “We have delivered double digit subscription and traffic revenue growth during the 1st half of 2016. Our simplified customer centric products and continued investment on 3G coverage expansion are driving this growth.”