Grameenphone Ltd (GP) reported a 4.4 per cent increase in its net profit after tax for the first quarter of 2026, reaching Tk660 crore, despite a 2 per cent year-on-year decline in revenue.
The company’s total revenue for the quarter fell to Tk3,760 crore, primarily impacted by macroeconomic challenges that affected both voice services and consumer spending.
GP CEO Yasir Azman credited their strong cost discipline and effective management of external pressures.
“Despite the tough macroeconomic environment, we’ve navigated the quarter with resilience and discipline, securing an earnings before interest, taxes, depreciation, and amortization (EBITDA) margin of 58 per cent,” he said.
The ongoing investments in network, IT, spectrum, and AI-led programmes are building a scalable, digital-first operating model that supports future growth while maintaining cost control, he added.
EBITDA is a key performance indicator used to measure a company’s operating performance.
According to the company, a significant development for GP in the past quarter during the quarter was the acquisition of 700 MHz spectrum. This will improve rural network coverage and enhance the indoor experience, addressing long-standing coverage gaps, supporting data growth, and promoting digital inclusion in underserved areas.
GP Chief financial officer Otto Magne Risbakk highlighted the company’s ability to achieve profit growth, despite the revenue decline.
He explained, the 4.4 per cent increase in net profit, despite revenue pressures, reflects the company’s improving earnings quality.”
Lower depreciation and finance costs contributed significantly to the positive financial performance.
While voice services saw a decline, the data segment continued to grow. The number of active data users increased by 1.7 per cent to 49.2 million, and data usage per user grew 5.4 per cent to 7.7 GB.
Risbakk further outlined the company’s operational efficiency, with operating expenses down 2 per cent and the cost of goods sold reduced by 7.3 per cent year-on-year.
While EBITDA saw a slight decline of 1.5 per cent, the decrease was much smaller than the revenue drop, underscoring effective cost management.
Looking ahead, GP continues to invest in its ambition of becoming an AI-first telecom operator.
The company is advancing AI-driven initiatives across its network and operations, with expected tangible benefits in the coming quarters.
The initiatives positioned GP as a key player in Bangladesh’s national digital transformation, it said.
GP shares closed 1.32 per cent higher at Tk245.20 on the Dhaka Stock Exchange on Thursday.
