Grameenphone

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The ban was introduced on June 29 2022. It affected Q3 and Q4 of 2022. GP lost 4.5mn or 5.3% customers from June 2022 base. The impact was c. 3% of revenue in Q3 2022. We reiterate buy on valuation with updated TP BDT 390 (ETR 44.7%) with an expected...

The verdicts of global events remain undecided, leading to an extended period of uncertainty and indecision. There are two ways for investors to deal with uncertainty. Either panic or persevere. We would recommend the latter. We expect that this repo...

We have 13 listed Multinational Companies (MNCs). Their profits increased by c. 8% in Q3 CY22, and c. 1% in 9M CY22. Consumer staples performed better. Consumer discretionary companies and construction companies faced challenges. BATBC, UNILEVERCL, L...

GP recorded BDT 6.8 Q2 2022 EPS vs BDT 6.3 in Q2 2021. BDT 37.8bn revenue in Q2 2022 – highest in any quarter so far. This is noteworthy for two reasons. The roll-out of 10.4 MHz spectrum in 2021, increased economic activity, resumption of educationa...

Bangladesh's economy maintained a steady 6%+ growth rate during FY10-FY15, a 7.0%+ growth rate during FY16-FY18, and the growth rate increased to 8.15% in FY19. On the other hand, the central started the BB bill auction from August 2021 as a cautiona...

GP recorded BDT 6.34 Q3 2021 EPS vs BDT 6.59 in Q3 2020. The 9M 2021 reported EPS stood at BDT 19.24 while 9M 2020 EPS was BDT 19.89, implying a 3.0% yoy decline in the bottom-line. Revenue increased by 1.8% yoy in Q3 2021, as a 7.7% subscriber growt...