Robi posts Tk 7,481cr revenue

22nd February, 2020 07:32:25 printer

 Robi posts Tk 7,481cr revenue

Buoyed by robust data revenue growth of 28 percent over the year 2018, Robi registered Taka 7,481 crore revenue in 2019, which was 10 percent higher than 2018.

Riding on double-digit revenue growth, country’s second largest mobile phone operator finished last year with a profit after tax (PAT) of Taka 17 crore, according to business update revealed today.

Incorporating 2.1 million new subscribers, Robi’s subscriber base stood at 49 million at the end of 2019, which representing 29.6 percent of market share. Compared to 2018, the subscriber base grew by 4.5 percent in 2019. Out of 49 million subscribers, 31.3 million are internet users.

A Robi statement said average revenue per user (ARPU) also increased to Taka 123 in 2019, grew up by 3.7 percent compared to 2018. Total data usage growth of 95 percent in 2019 showed Robi’s dominance in 4.5G service.

The operator said five out of every seven person who availed the mobile number portability (MNP) service opted to join Robi network from other operators.

Robi said although the corporate tax rate is set at 45 percent, Robi’s effective tax rate for this year was more than 90 percent. The effective tax rate went up on the backdrop of Robi making positive PAT in this year.

On the whole, rising of the minimum tax rate from 0.75 percent to 2 percent, doubling of SIM tax to Taka 200, supplementary duty on smartphones from 10 percent to 25 percent, supplementary duty on mobile usage from 5 percent to 10 percent had a major impact of the financial performance of the company, it added.

Robi’s Earnings Before Income Tax Depreciation and Amortization (EBITDA), stood at Taka 2,880 crore with a margin of 38.5 percent at the end of 2019.

Robi’s Managing Director and CEO Mahtab Uddin Ahmed said “our determined focus on bringing innovation in every aspect of the business helped us to be recognized as a Digital Telco of global standard with a Digital Transformation Index of 7.4, according to the renowned international management consultancy organization, Oliver Wyman.”

“We can clearly see how our digitalization initiatives are beginning to come together to produce such extraordinary accolades, and I can confidently say Robi is very successfully shifting its gears as a company to lead the country in the era of fourth industrial revolution,” he added.