Mobile phone operator Robi has earned a net profit Tk 167.4 crore in first nine months of the year supported by steadily rising revenue and efficient cost management.
The company ended the third quarter of the year with profit after tax (PAT) of Tk 86.5 crore, it said at a virtual press briefing on Sunday.
Robi’s PAT for the first nine months of this year grew by 44.3 percent from the same period a year earlier.
Robi’s 4G subscriber base grew by 12.7 percent in the third quarter this year compared to the same quarter last year.
Its 4G subscriber base also grew by 51.1 percent. Out of a total subscriber base of 5.30 crore, 2.24 crore are 4G subscribers. Besides, 74 percent of the company’s subscribers are now data users, which is the highest in the industry.
Although the subscriber base grew by 5.8 percent compared to the same quarter last year, Robi’s subscriber base grew by 2.3 percent in third quarter this year. Robi’s subscriber market share stood at 29.5 percent at the end of the quarter.
Robi’s revenue reached Tk 20.85 crore in the third quarter following a 2.7 percent rise compared to the previous quarter.
The company’s earnings per share (EPS) in third quarter was Tk 0.17, in second quarter the EPS was TK 0.09, and in third quarter last year it was Tk 0.08.
However, for the first nine months of this year, the EPS was Tk 0.32.
Robi paid a total of Tk 3,373 crore to the government exchequer during the Jan- Sept period, which is 55.3 percent of the company’s total revenue. The company had 14,466 sites at the end of the third quarter.
“We are very happy to see our profit rising steadily every quarter this year,” said Robi’s acting CEO and CFO M. Riyaaz Rashid.
“However, it is very disappointing to note that our PAT in the first nine months could have been Tk 289.3 crore instead of Tk 167.4 crore had we not been subjected to a further 2 percent minimum turnover tax. Our shareholders are certainly being deprived of the value they deserve for their investment in the company due to this reason,” he said.
Riyaaz Rashid was also very upbeat about having the highest percentage of data users 74% in the industry.
He cited that 42 percent of Robi’s smartphone and data users were actively using the company’s self-care app for availing their desired services.
Besides, the customer interactions at digital customer touchpoints have increased by 43% compared to last year.
“This clearly shows that the company is pacing along nicely towards its digital vision,” Rashid added.
Referring to the lack of effective SMP regulation, he said: “If immediate actions are not taken to ensure effective implementation of SMP regulation, the SMP regulation will soon be rendered hopeless due to the fast-evolving nature of the industry. In this backdrop, one wonders how long four players can sustain in this market.”