Robi suffers losses in April-June quarter

Robi Axiata, the country's second-largest mobile phone operator, has reported a loss of Tk 0.02 earnings per share (EPS) in April-June quarter of this year due to the devaluation of taka against US dollar.
Following the news, the company's share price fell 1.69 per cent to close at Tk 29 each on Thursday.
The telecom operator's consolidated EPS was Tk 0.09 for April-June 2021, according to a filing with the Dhaka Stock Exchange (DSE) on Thursday.
The company has also reported consolidated EPS of Tk 0.05 for January-June 2022 as against Tk 0.15 for January-June 2021.
The consolidated net operating cash flow per share (NOCFPS) was Tk 3.03 for January-June 2022 as against Tk 3.01 for January-June 2021.
The consolidated net asset value (NAV) per share was Tk 12.49 as on June 30, 2022 and Tk 12.45 as on June 30, 2021.
"Robi lost Tk 1.72 billion in April-June 2022 quarter due to devaluation of taka against the US dollar," the company said in a statement on Thursday.
"Losing our hard-earned profit to the devaluation of taka against US dollar is very painful," said M. Riyaaz Rasheed, acting CEO and CFO of Robi Axiata, in a statement.
"Since we rely on the international market to source telecom equipment, forex volatility is a major concern for us at the moment".
The mobile phone operator's revenue stood at Tk 21.05 billion in the second quarter (Q2) for April-June 2022, but due to changes in forex, ended up losing Tk 122 million, according to the statement.
Had it not been for the forex changes, Robi's profit after tax for Q2 would have been Tk 861.3 million, it said.
Robi's revenue for the first six months of 2022 reached Tk 41.24 billion and profit after tax (PAT) at Tk 280 million.
Were it not for the losses induced by the forex changes, Robi's profit after tax for the first six months would have been Tk 1.32 billion, it said.
Compared to the last quarter, the company's revenue increased by 4.3 per cent and compared to the same quarter last year, revenue grew by 3.7 per cent.
The company's voice revenue increased by 4.6 per cent compared to last quarter and by 11.8 per cent compared to the same quarter last year.
Data revenue grew by 3.7 per cent compared to last quarter, while the same declined by 4.5 per cent compared to the same quarter last year.
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Around 74.2 per cent of Robi's subscriber base were internet subscribers in Q2'22, which was the highest in the industry, and 65.1 per cent of data users were 4G users. Robi ensured 98.2 per cent population coverage of its 4G network with 14,961 4G sites.
Robi made its trading debut on the DSE on December 24, 2020. The telecom operator raised Tk 5.23 billion by issuing 523 million shares under the fixed-price method.