Grameenphone (GP) Q1 2025 earnings summary

Executive summary

• Q1 2025 was marked by a challenging macroeconomic environment, with revenue at BDT 38.35 billion, down 2.5% year-over-year, and net profit at BDT 6.34 billion, a 53% decrease, but subscriber and data user growth resumed, and early signs of recovery appeared.

• Strategic focus on IT and network modernization, AI integration, and customer-centric digital initiatives improved service reliability and personalized experiences.

• Sustainability leadership advanced through ISSB standards adoption, external assurance, and 56% of partner spend committed to carbon reduction.

• Cash flow from operations increased to BDT 19.06 billion, up from BDT 17.49 billion year-over-year.

• Operating profit declined to BDT 12.73 billion from BDT 15.58 billion year-over-year.

Financial highlights

• Revenue for Q1 2025 was BDT 38.3 billion, down 2.5% year-over-year, with sequential improvement; normalized decline was 1.4%.

• EBITDA was BDT 22 billion, down 8.1% year-over-year, with a margin of 57.4%.

• Net profit after tax reached BDT 6.3 billion (16.5% margin), down 53% year-over-year, impacted by a one-off tax reversal and currency effects.

• Operating cash flow was BDT 17.2 billion, maintaining a 45% margin.

• Capex for the quarter was BDT 7.2 billion, supporting ongoing modernization.

Outlook and guidance

• Early signs of economic recovery are visible, with ARPU and data consumption rebounding and consumer confidence trending up.

• Continued investment in technology, digitalization, and customer experience is expected to position the business for growth.

• No explicit forward-looking financial guidance provided; statements prepared on a going concern basis.