Earnings Report /
Bangladesh

Grameenphone: Q3 2021 – c4% yoy earnings decline driven by one-off operating expenses

  • GP reported BDT 6.34 Q3 21 EPS vs BDT 6.59 in Q3 20, implying c4% yoy decline. But normalized NPAT growth stood at c1%

  • Low revenue growth yoy due to slow business activities in July amid lockdown and intense data price competition in Q3 21

  • EBITDA margin was 60.1% in Q3 21, lower by 293 bps yoy. Higher gratuity expenses over the previous year caused such dent

Tanay Kumar Roy
Tanay Kumar Roy

Research Analyst

IDLC Securities
25 October 2021
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