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Robi’s net profit reaches Tk 4.7bn in Q2

  • Special Correspondent
  • 29 July, 2021 12:00 AM
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Robi’s net profit reaches Tk 4.7bn in Q2

Mobile phone operator Robi has earned a profit of Tk 4.7 billion during the April-June period of 2021.

“Robi ended the Q2 (April-June) of the year with profit after tax (PAT) of TK 4.7 billion,” said Robi at a virtual press conference Wednesday.

“Supported by steadily rising revenue and efficient cost management, the company’s PAT for the first half of the year reached Tk 8.1 billion,” it said.

Robi’s 4G subscriber base grew by 7.5 percent in Q2 from Q1. But it increased by 65 percent from the same period a year ago.

“Out of a total subscriber base of 51.8 million, close to 20 million are 4G subscribers. Besides, 72.4 percent of the company’s subscribers are now data users, which is highest in the industry,” said Robi, one of the leading operators in Bangladesh.

Monthly data usage is also rising rapidly, which now stands at 3.9 GB per user, indicating that Robi’s strong 4.5G network is winning the confidence of the digitally savvy customers, officials of Robi said.

Although the subscriber base grew by 8.1 percent compared to the same quarter last year, compared to the last quarter, Robi’s subscriber base declined marginally by 0.2 percent in Q2 of 2021. Robi’s subscriber market share stood at 29.4 percent at the end of Q2 of 2021, it said. 

Despite the lockdown, Robi’s revenue reached Tk 20.31 billion following a rise of 2.5 percent in Q2 from the last quarter.

Robi’s revenue rose by 15.2 percent from the same quarter last year.

The voice revenue grew by 1.4 percent in the Q2 compared to the last quarter. The growth was 13.7 percent from the same quarter last year.

“Data revenue on the other hand has been speeding up at a faster rate with 3.6 percent growth in Q2, compared to the last quarter. Robi’s data revenue grew steeply by 21.9 percent compared to the same quarter last year.”

The company’s earnings per share (EPS) at the end of Q2 reached Tk 0.09, following a rise of 36 from the last quarter.

The growth was 17.8 percent compared to the same quarter last year.

The company had 13,545 4G sites at the end of the Q2 ensuring 98 percent population coverage.

It said Robi paid Tk 11.38 billion to the government exchequer which was 56 percent of its revenue for the quarter.

Commenting on Q2 performance, Robi’s Managing Director and CEO, Mahtab Uddin Ahmed said: “We are very happy to see that our digital vision has already begun to contribute significantly to our financial performance.”

He said, “We are efficiently managing our cost while continuing with experiments with innovative digital technologies to future-proof the company.”

Reflecting on the company’s role in the pandemic situation, he added: “We are proud to be supporting the national call center, 333.”

However, Robi CEO expressed concerns over the lack of effective implementation of the SMP regulation.

He said the overall competitive distortions are pushing the market to the brink of failure.

Such fragile state of the competitive landscape is making it difficult to achieve the condition of economic efficiency.

Mahtab noted that distorted price mechanism and distribution system are undermining consumers’ interest and weakening the telecom industry to the detriment of the Digital Bangladesh vision.