Grameenphone reports mixed Q3 results: Revenue drops but organic growth rises

Grameenphone, Telenor Group’s subsidiary in Bangladesh, released its third-quarter 2025 results. Revenues dropped to NOK 3,326 million in Q3 2025 from NOK 3,568 million in Q3 2024. Adjusted EBITDA decreased to NOK 1,960 million from NOK 2,093 million, and operating profit fell to NOK 1,199 million from NOK 1,318 million year-over-year. CAPEX excluding leases also saw a reduction, from NOK 346 million in Q3 2024 to NOK 255 million in Q3 2025.

Despite the decrease in consolidated figures, the company reported positive organic growth metrics. Organic service revenues increased by 1.4% during the quarter. Organic adjusted EBITDA also showed an increase of 1.8%.

However, subscriber numbers experienced a decline, with 0.7 million fewer subscriptions recorded during the third quarter of 2025 compared to the previous year.