The net profit of mobile phone operator Grameenphone slumped by 7 per cent to Tk 1,750.47 crore in 2012 from that of the previous year. GP’s net profit had risen by 76 per cent to Tk 1,889 crore in 2011 from that of Tk 1,070 crore in 2010. GP officials said the interest payment of loans taken for 2G license renewal fees was one of the major reasons for the profit decline. According to GP’s corporate disclosure at the Dhaka Stock Exchange on Monday, the earning per share of the company declined to Tk 12.96 in the last year compared to Tk 13.99 in 2011.
GP board of directors on the day also recommended 50 per cent final cash dividend for investors taking the total cash dividend to 140 per cent for the year.
The company earlier declared 90 per cent interim cash dividend.
GP had declared 205 per cent cash dividend in 2011 with an interim cash dividend of 140 per cent.
It lost more than 9 lakh subscribers in three months with its total number of subscribers coming down to 4.00 crore at the end of December from 4.09 crore in September.
The stock price of each share of GP came down to Tk 166.91 on Monday after the corporate declaration as it lost Tk 1.40, or 0.83 per cent, on the day. The share price of GP declined by Tk 8 in the last four trading sessions.
Courtesy of New Age
