DHAKA, Jan. 28 (Xinhua) -- Bangladesh's largest cell phone operator Grameenphone Monday reported a 7.7- percent increase in revenues in the fourth quarter of 2018 compared with that in the same period previous year.

The company, which is listed on the Dhaka Stock Exchange in Bangladesh, said that the revenue was 132.8 billion taka (1 U.S. dollar equals to about 84 taka) for the January-December period of 2018, up 3.4 percent from the same period of 2017.

"In 2018 we delivered a strong business performance driven by excellent execution in the market. We launched 4G in Bangladesh in February and faced many challenges this year with a tough competitive environment and regulatory directives. We witnessed healthy growth in voice and data revenue," said Michael Patrick Foley, chief executive officer of Grameenphone Ltd.

Data revenue grew by 21 percent along with voice revenue growth of 6.6 percent in 2018, said the company.

"With the growth potential of the market and our focus on operational efficiency, simplification, and driving value for our customers, we are optimistic in delivering profitable growth going forward. We are also happy to announce that the Board of Directors has recommended a final dividend of 28 taka per share for our honorable shareholders,"said Karl Erik Broten, chief financial officer of Grameenphone Ltd.

With 72.732 million customers at the end of December, GP, 55.8 percent owned by Norwegian telecom company Telenor and 34.2 percent owned by local Grameen Telecom, is the largest telecom operator in Bangladesh and has a strong legacy of providing mobile services to all parts of the country.

Grameenphone said it acquired 7.4 million new subscribers in 2018, registering a 11.3 percent growth.

The company said it also added 5.9 million Internet subscribers, 51 percent of total subscribers of Grameenphone Ltd. are using Internet services.