Robi Axiata Limited, the nation’s second-largest telecom operator, has announced a remarkable profit surge of 154%, amounting to Tk106.65 crore in the January-March quarter of 2024.
The company unveiled its unaudited report for the first quarter of the year today, revealing a 7% revenue increase to Tk2,516 crore compared to the same period last year.
Robi’s consolidated earnings per share (EPS) reached Tk0.20, with net asset value (NAV) per share at Tk12.96, and net operating cash flow per share at Tk1.74 by the end of March.
Revenue from mobile services, covering voice, non-voice traffic, data, subscription, and connection fees, experienced an 8% rise to Tk2,340 crore. However, revenue from interconnect services declined by 1% to Tk130 crore. Moreover, revenue from device sales plummeted by 84%, while revenue from other sources, such as commission, IT professional services, and digital services, increased by 4% to Tk0.43 crore and Tk30 crore, respectively.
Read more: Standard Chartered Facilitates First INR-BDT Import Transaction for Unilever
Rajeev Sethi, Robi’s Managing Director and CEO, expressed concerns about the impact of the macro-economic conditions and high inflation on subscriber usage patterns. He highlighted the necessity for immediate policy interventions to unlock growth potential amid the economic challenges.
In 2023, Robi reported a 16% year-on-year revenue increase to Tk9,942 crore, marking its highest annual turnover in history. The company also recommended a 10% cash dividend for its shareholders for the calendar year 2023.
Robi plans to hold its annual general meeting on April 24 to approve the dividend and audited financial statement.
Rajeev Sethi emphasized that Robi’s record-setting revenue for 2023 was propelled by subscribers’ confidence in their network, leading to the highest number of subscriptions among all operators. As of March, Robi boasts 5.81 crore mobile subscribers, accounting for 30% of the total.
Read more: 10 predictions for 2024 as marketing in bangladesh seeks a new normal
The company’s share price closed at Tk26.40 each today, marking a 1.49% decrease from the previous session at the Dhaka Stock Exchange.
Established in 1997 as Telekom Malaysia International (Bangladesh), Robi was rebranded as Robi Axiata Limited in 2010 after merging with Airtel. The mobile network operator raised Tk523 crore through an initial public offering in 2020, with Axiata Group Berhad owning 61.82%, Bharti Airtel of India owning 28.18%, and the general public holding the remaining 10%.
