Grameenphone Grapples with Growth Dip in Q1 Earnings
Grameenphone Ltd., one of the leading private mobile operators in Bangladesh, reported a significant decline in its net profit for the first quarter (January–March) of 2025. According to a press release issued on Friday, the company posted a net profit of Tk 634 crore in Q1, a stark 53 percent drop from Tk 1,340 crore in the same period last year.
The company attributed the decline primarily to macroeconomic challenges and a reduction in internet prices. “The company’s revenue has been impacted by the overall macroeconomic headwinds, along with the effect of reduced internet tariffs,” Grameenphone stated in the release.
According to the press note and financial disclosures, Grameenphone earned Tk 3,835 crore in revenue in the first quarter of 2025, which is 2.5 percent lower than the Tk 3,930 crore recorded in the corresponding period last year. In Q1 of 2024, the company had seen revenue growth of 5.30 percent.
Earnings per share (EPS) also witnessed a notable decline. The EPS fell by Tk 5.22, with the current figure standing at Tk 4.69 per share, compared to Tk 9.91 in the same quarter of the previous year.
As of Q1 2025, Grameenphone reported a total subscriber base of 84.8 million, of which 57 percent—approximately 48.3 million—are internet users.
Yasir Azman, Chief Executive Officer of Grameenphone, stated, “Despite the challenging economic environment, our strategic initiatives are helping us enhance financial performance. This quarter also witnessed positive growth in internet user base and usage. However, a 17 percent drop in internet prices impacted our revenue compared to the same period last year.” He added, “We are entering a new era of innovation through digital and network infrastructure transformation, laying the foundation for a data-driven and digital economy in Bangladesh.”
Grameenphone’s Chief Financial Officer, Otto Magne Risbakk, echoed a cautiously optimistic outlook, stating, “The signs of economic recovery we observed in the previous quarter are gradually becoming more tangible. As a result, we are witnessing renewed growth in both data usage and subscriber numbers. After two consecutive quarters of decline, Average Revenue Per User (ARPU) increased in Q1 2025. Compared to the previous year, overall revenue is down by 2.5 percent, largely due to consumer caution in spending. However, excluding the leap year effect, we are only trailing by about 1 percent from last year’s performance.”
