Second Quarter 2026: Earnings Resilience Driven by Strong Cost Discipline
Grameenphone Ltd. reported a total revenue of BDT 39.8 billion for the second quarter of 2026, registering a decline of 3.0% from the same period last year mainly due to the challenging macro economy. The company reported a total subscriber base of 86.3 million at the end of the second quarter. 61.1% of Grameenphone’s total subscribers, or 52.7 million, are using internet services as stated in the Press Release.
| Key Figures (BDT) | Q2 2026 |
| Revenues (Bn) | 39.8 |
| Revenues Growth YoY | -3.0% |
| Net Profit After Taxes (Bn) | 7.6 |
| NPAT Margin | 19.1% |
| EBITDA Margin | 58.0% |
| Earnings Per Share | 5.6 |
| Capex (excl. license, lease & ARO) (Bn) | 5.5 |
“We maintained a healthy EBITDA margin of around 58%, demonstrating continued cost discipline and operational efficiency despite higher investments and a challenging operating environment. During the quarter, we completed the deployment of the 700 MHz spectrum across more than 1,000 sites nationwide and we are seeing encouraging early benefits from the deployment. 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 our history, successfully managing more than double the normal traffic while delivering a stable customer experience. The encouraging improvements in our customer fundamentals this quarter also gives us confidence that the business is moving in the right direction,” said Yasir Azman, Chief Executive Officer of Grameenphone Ltd.
“We are not only connecting Bangladesh digitally but also helping to build a digital society that is safe, inclusive and trusted. Through our partnership with UNICEF, we supported the integration of online safety education into the national curriculum. At the same time, we continue to strengthen our digital security portfolio through solutions such as GP Shield, responding to the growing demand for cybersecurity services among both consumers and enterprises.”. he added
“We’ll 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 optimization. Looking ahead, we remain committed to investing in the future. From network modernization and digital platforms to new technologies and ecosystem partnerships, we will continue making disciplined investments that strengthen our long-term competitiveness. Together with the Government and our partners, we look forward to contributing to Bangladesh’s digital ambitions while creating sustainable value for our customers and shareholders.,” he further added.
Otto Magne Risbakk, Chief Financial Officer of Grameenphone Ltd., said, “We are encouraged by the direction of our revenue metrics this quarter. Starting with the subscriber base, total subscribers returned to growth during the quarter, reaching 86.3 million. At the same time, active data users increased to 52.7 million, taking data penetration above 61% of our subscriber base. Revenue increased sequentially by 6% during the quarter, which is encouraging but declined year-on-year by 3% as comparable quarter benefited from the timing of two Eid festivals in a quarter, resulting in a higher base. Inflation remains elevated at around 9.2%, while our cost growth has continued to moderate over the past several quarter reflecting the operational efficiency measures we have been implementing across the organization. Total costs saw a minor increase of around 1.8% year-on-year, despite continued investments in both our network and IT capabilities. Moving to EBITDA, we see similar sequential growth but year-on-year decline of 6.1%, largely reflecting the softer topline. What is encouraging, however, is that we have continued to maintain a healthy EBITDA margin of 58%, demonstrating that disciplined cost management is helping protect earnings despite the revenue pressure. NPAT improved compared to the previous three quarters, reflecting the sequential improvement in performance.”
“I am pleased to announce that the Board has declared an interim dividend of 10.50 taka per share with a 100% payout ratio for 1H 2026, in line with our long-standing commitment to deliver attractive returns to our shareholders. 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 further added.
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