Country鈥檚 top tier mobile operator company Grameenphone Ltd witnessed a 53 per cent decline in their profit to Tk634 crore in the first quarter (January-March) of 2025 due to macroeconomic pressure, said a company statement.
In the same period last year, the company made a profit of about Tk1,340 crore. Moreover, earnings per share declined to Tk 4.69 from Tk 9.91.
Moreover, Grameenphone posted revenue of Tk 3,835 crore in the first quarter (January-March) of 2025, registering a decline of 2.5 per cent from about Tk3,933 crore in the same period last year due to the challenging macro economy.
According to the company鈥檚 statement, they reported a total subscriber base of 84.8 million at the end of the first quarter, of which 57 per cent (48.3 million) of the total subscriber base were using internet services.
In the statement, Yasir Azman, Grameenphone鈥檚 chief executive officer, said that despite navigating the challenges of this difficult macro environment, their financial performance was improving thanks to strategic measures.
Data user and usage growth remained strong this quarter; however, revenue fell year over year due to a sharp 17 per cent drop in data pricing.
鈥榃e are stepping into a new era of innovation through the transformation of our IT and network infrastructure, laying the foundation data & digital centric economy in the country,鈥� he added.
Otto Magne Risbakk, Grameenphone鈥檚 chief financial officer, said that, as anticipated last quarter, the economy鈥檚 gradual recovery is leading to a rebound in data usage and subscriber growth.
After two consecutive quarters of decline, average revenue per user finally increased in Q1 of 2025.
鈥極n a year-on-year basis, we have registered a decline of 2.5 per cent in total revenue, largely driven by cautious consumer spending. But if we normalize the leap year effect from last year, our year-over-year performance shows we are only 1% behind,鈥� he added.