Grameenphone Returns to Revenue Growth

Grameenphone returned to modest revenue growth in the third quarter of 2026, supported by network expansion, stronger customer engagement and continued growth in data usage. Revenue reached BDT 4,017 crore in the July–September quarter, up 0.2% year on year and 0.9% sequentially. Data usage increased by nearly 12%. At the end of the quarter, the operator reported 86.8 million subscribers, of whom 53 million, or 61.4%, were using internet services.

The recovery follows negative revenue growth in previous quarters. Subscriber growth, lower customer churn, stronger engagement with data services and improved voice-minute usage contributed to the positive performance. The company also maintained cost discipline and operational efficiency while continuing to invest in network quality and customer experience.

“Our performance this quarter reflects the balance we are working to achieve: returning to growth, protecting profitability and continuing to invest for the future,” said Yasir Azman, chief executive officer of Grameenphone Ltd.

He said the company achieved year-on-year revenue growth of 0.2% and sequential growth of 0.9% in Q3. The improvement was broad-based, with a stronger subscriber base, continued growth in data users and resilient data consumption following the Eid peak.

Azman said the next priority is to make the recovery sustainable. Grameenphone will continue adapting its offerings to evolving customer needs, deepening data engagement and expanding the adoption of combo packages.

The company maintained a disciplined approach to costs and operational efficiency while investing in network quality and customer experience. As a result, earnings before interest, taxes, depreciation and amortization (EBITDA) remained broadly stable year on year, with a margin of around 59%.

Grameenphone’s year-to-date capital expenditure-to-sales ratio stood at 12.3%. Investments focused primarily on expanding its 4G network and fibre connectivity, alongside the deployment of 700 MHz spectrum.

According to Azman, the company’s network, spectrum assets and digital platforms position it to support Bangladesh’s growing demand for connectivity. Grameenphone plans to continue disciplined investments that improve customer experience and strengthen its long-term competitiveness.

AI and Digital Inclusion Initiatives

Grameenphone is also simplifying its technology landscape, refining its service portfolio and reducing friction across customer journeys. Azman said artificial intelligence (AI) and automation would increasingly support the company’s operations and customer service as implementation progresses.

During the quarter, Grameenphone launched the second phase of its Digital Inclusion for Marginalized Communities initiative. The programme aims to reach four million people across eight underserved communities, with women accounting for 70% of participants.

The company has also introduced its OneAI Student Pack to help students explore AI tools, apply them to learning and develop skills for future opportunities.

Azman said Grameenphone would continue pursuing its environmental commitments and supporting communities facing immediate challenges. Its priorities include sustaining growth, improving efficiency through AI and digital transformation, and maintaining disciplined long-term investment.

Cost Discipline Supports Profitability

Otto Magne Risbakk, chief financial officer of Grameenphone Ltd., said the company returned to positive revenue growth after several quarters of negative performance. Improvements in subscriber numbers and service usage are now translating into revenue, supported by a larger customer base, stronger digital and data performance, and increased voice-minute usage.

He said Grameenphone aims to build on this momentum and generate further growth in the fourth quarter. Its subscriber base continued to expand, approaching 87 million. Lower churn and higher gross additions helped increase the number of data customers to 53 million. Data usage rose by nearly 12% during the quarter, extending the positive trend observed in Q2.

Operating expenses remained stable at BDT 1,654 crore in Q3, while year-to-date costs declined by 0.2% year on year. Risbakk said the company's cost-management approach combines short-term measures with longer-term structural initiatives.

Effective cost management helped keep net profit broadly stable at BDT 751 crore year on year, following several quarters of negative performance. However, he warned that global tensions and energy-related pressures would require continued close monitoring of costs in the fourth quarter.

The company also reported improvements in capital efficiency. Disciplined capital allocation and investment over time are contributing to lower depreciation expenses. Return on capital employed (ROCE) increased by 0.9 percentage points year on year to 26.6%, Risbakk said.

Grameenphone’s performance indicates that revenue recovery, rising data usage, cost discipline and network modernisation will remain central to its business priorities in the coming quarters.

//DBTech/MMGP/SMEE/MVNO//