Robi's half-yearly profit jumps 140pc

Robi Axiata, the second largest telecom operator in Bangladesh, registered a net profit of Tk 244 million in the April-June quarter this year, driven by higher revenue and a significant reduction in foreign exchange loss.
The telecom operator had incurred a loss of nearly 122 million in the April-June quarter of 2022 due to higher costs of revenue generation and significant loss in foreign exchange transactions.
As a result, the company's earnings per share stood at Tk 0.05 for the June quarter, as against a loss of Tk 0.02 per share in the same quarter a year before, according to its unaudited financial statements published on Wednesday.
The company's revenue also rose 21 per cent year-on-year to Tk 25.40 billion in the June quarter, although costs of revenue generation increased by 31 per cent to Tk 17 billion.
The telecom operator's half-yearly profit also jumped 140 per cent year-on-year to Tk 664 million in January-June this year while revenue rose 18 per cent to Tk 48.88 billion.
Although costs of revenue rose 21 per cent to Tk 31.76 billion in the first half through June this year, its foreign exchange loss was reduced significantly which contributed to the profit growth.
The mobile operator's foreign exchange loss was reduced 96 per cent year-on-year to Tk 63.28 million in the April-June quarter this year.
"Robi has been making efforts to improve its services and expand its customer base," said an official of the company.
Having attained 4G leadership, Robi was the first company to launch 4.5G services in all 64 districts in 2018 and successfully conducted the first-ever trial of 5G technology in the same year.
Robi Axiata is the second-largest telecom operator in terms of subscribers, revenue and profit, and holds 30.2 per cent of the market share as of February this year.
It joined the stock market with the largest-ever initial public offering (IPO) in December 2020. It raised roughly Tk 5.24 billion from a wide range of investors including its own employees under the fixed-price method.
The company used the IPO proceeds for network expansion.
Asian telecom giant, Malaysia-based Axiata Group Berhad, holds 61.82 per cent shares of Robi Axiata while Bharti Airtel holds 28.18 per cent stake. It offloaded 10 per cent shares in the stock market.
Robi made Tk 1.83 billion in annual profit in 2022 and declared a 7 per cent cash dividend, the highest since its listing in the stock market.
The company's share price has been languishing at the floor price of Tk 30 on the Dhaka Stock Exchange since August 4 last year.

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