TPG Telecom reports 275% net profit growth in HY26 results

TPG Telecom reported strong financial results for the first half of the 2026 financial year, ending June 30, 2026. The company saw a 275% surge in net profit, reaching $35 million, driven largely by reduced borrowing costs following debt reduction in the previous year.

Mobile service revenue grew by 3.1% to $1.2 billion, supported by an increase of 64,000 mobile subscribers, bringing the total to 5.81 million. This growth in the mobile sector helped offset a decline in home broadband service revenue, which fell 1.9% as the subscriber base decreased from 1.98 million to 1.94 million.

Group service revenue rose 0.5% to $2.07 billion, while EBITDA grew 4.7% to $821 million on a pro forma basis. CEO Iñaki Berroeta attributed the performance to a multi-brand strategy, network sharing, and operational efficiencies. The company also increased its dividend per share by 11.1% to $0.10.