GP logs lowest H1 profit in at least 4yrs

Grameenphone has announced a 105 percent interim cash dividend for its shareholders despite reporting lower revenue and profit in the first half of the year than in the same period last year.

The listed telecom operator posted revenue of Tk 3,982 crore in the second quarter of 2026, down 3 percent year-on-year, mainly because of the challenging macroeconomic environment.

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Net profit for the quarter fell about 14 percent year-on-year to Tk 758 crore.

In the first six months of the year, revenue declined 2.49 percent to Tk 7,739 crore, while profit dropped 6 percent to Tk 1,420 crore.

Despite the weaker financial performance, the company declared the interim dividend as it said it continued to maintain strong profitability and operational efficiency.

Yasir Azman, chief executive officer of Grameenphone Ltd, said, “The company maintained a healthy earnings margin, demonstrating continued cost discipline and operational efficiency despite higher investments and a challenging operating environment.”

“The strength of our network was demonstrated during the FIFA World Cup. In Q2, during the Argentina versus Austria match, Grameenphone handled the highest data traffic ever recorded in its history, successfully managing more than double the normal traffic while delivering a stable customer experience,” he said.

“It will continue driving operational efficiencies through our operational excellence program, while leveraging AI, automation and digital transformation to unlock the next phase of productivity improvements and sustainable cost optimisation.”

He said GP remains committed to investing in the future. From network modernisation and digital platforms to new technologies and ecosystem partnerships, it will continue making disciplined investments that strengthen its long-term competitiveness.

Grameenphone subscriber numbers returned to growth during the quarter, reaching 8.63 crore. Active data users also increased to 5.27 crore, taking data penetration to more than 61 percent of the subscriber base.

Revenue rose 6 percent from the previous quarter, which was encouraging, but fell 3 percent year on year because the same quarter last year benefited from the timing of two Eid festivals, creating a higher base, said Otto Magne Risbakk, chief financial officer of Grameenphone Ltd.

He said inflation remains elevated at around 9.2 percent, while its cost growth has continued to moderate over the past several quarters, reflecting the operational efficiency measures it has been implementing across the organisation.

“We continue to generate healthy cash flows, maintain a debt-free balance sheet and follow a disciplined approach to capital allocation, allowing us to invest in the business while continuing to return value to shareholders,” he added.