GP's Q1 revenue drops 2pc amid challenging economic environment

Grameenphone, the country’s largest mobile operator, reported a 2.0 per cent year-on-year decline in revenue in the first quarter of 2026, reflecting continued pressure from a challenging macroeconomic environment.

The company’s total revenue stood at Tk 37.6 billion during the January–March quarter. Despite the decline in revenue, net profit after tax (NPAT) rose 4.4 per cent year-on-year to Tk 6.62 billion, supported by disciplined cost management and lower finance and depreciation expenses.

Earnings per share (EPS) stood at Tk 4.90, compared with Tk 4.69 in the same quarter last year, while capital expenditure (excluding license, lease and asset retirement obligations) reached Tk 3.6 billion during the quarter.

At the end of March, Grameenphone’s total subscriber base stood at 84.2 million, of which 49.2 million, or 58.4 per cent, were internet users, reflecting a continued shift toward data-driven services.

“Despite compounded external challenges, we have maintained stability in both financial and operational performance, securing an EBITDA margin of around 58 per cent,” said Yasir Azman, Chief Executive Officer of Grameenphone, in a statement.

Operationally, data usage continued to grow, with active data users increasing 1.7 per cent and average usage rising 5.4 per cent year-on-year to around 7.7 GB per user.

“This outcome reflects strong financial discipline and improving earnings quality,” said Chief Financial Officer Otto Risbakk, adding that lower operating expenses and cost of goods sold helped offset the impact of weaker revenue.

However, voice revenue continued to decline, although this was largely offset by growth in data services.

Operating expenses fell by 2.0 per cent, while cost of goods sold dropped by 7.3 per cent, contributing to improved cost efficiency.

Following the announcement, the company’s stock rose 0.41 per cent to Tk 243 at the Dhaka bourse after two hours of trading on Thursday.

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