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Despite tough market competition, Robi Axiata secured a 28 per cent year-on-year surge in profit to Tk 2.42 billion in the third quarter through September this year, supported by higher revenue.
Consolidated earnings per share (EPS) rose to Tk 0.46 in the July-September quarter this year from Tk 0.36 in the same quarter the year before, according to quarterly financial statements published on Monday after a board meeting.
Robi registered 1.5 per cent year-on-year revenue growth to Tk 25.11 billion in the quarter to September this year.
It managed to maintain healthy profit growth amid ongoing macroeconomic challenges, largely due to lower impacts of the devaluation of the taka against foreign currencies and a sharp reduction in operating expenses.
"Robi continued on the growth trajectory, supported by a relatively better economic outlook," said Ziad Shatara, managing director and CEO of Robi Axiata, in a statement.
"Despite facing some headwinds from the extended monsoon impacting telecom spending by our subscribers, Robi demonstrates its ability to navigate through a complex economic environment," said Mr Shatara. "We remain confident in our trajectory going forward."
Due to stability in the forex market, Robi managed to gain Tk 26 million in forex transactions in the quarter to September, as opposed to a loss of Tk 184 million in the same quarter last year.
The telecom operator has been making efforts to improve its services and expand its customer base.
By deploying new spectrum and new site rollouts, Robi's active subscriber base reached 57.5 million, with an addition of 0.1 million subscribers in the September quarter. Data subscribers increased by 0.7 million to 44.8 million, while 4G subscribers rose by 1.1 million to 39.6 million.
The telecom operator has retained its leading position in terms of 4G subscribers. As part of its drive to strengthen the network, Robi's total 4G sites reached 18.5K at the end of September, providing coverage to 99.3 per cent of the population.
Robi is the first company to launch 5G services across selected areas of Dhaka, Chattogram, and Sylhet last month.
"We have continued to invest heavily in our network to ensure quality experience for our customers' rapidly growing data consumption," said Mr Shatara.
Robi also reported strong EBITDA (earnings before interest, tax, depreciation and amortization) of Tk 12.93 billion, with a healthy profit margin of 51.5 per cent in the third quarter to September.
For the last several years, Robi has been investing heavily in spectrum and has expanded its digital business in a move to deliver long-term value to shareholders and ensure sustainable growth.
Robi invested Tk 3.15 billion in the third quarter for better network coverage and expansion.
Its nine-month profit also jumped 57 per cent year-on-year to Tk 6.25 billion in the January-September period this year, although revenue dropped 2.5 per cent to Tk 74.07 billion during the time compared to the same period a year earlier.
Robi cut selling and distribution expenses drastically to Tk 8.54 billion in January-September this year from Tk 10.63 billion in the same period last year, while forex loss was reduced to Tk 50 million in January-September from Tk 769 million in the corresponding period last year
Meanwhile, the stock of Robi closed at Tk 29.8 per share on Monday on the Dhaka Stock Exchange, having shed 1.32 per cent from the previous day.
Annual performance
The telecom operator posted a record annual profit of Tk 7.03 billion for 2024, marking a 119 per cent jump over the year before, riding on operating efficiency.
Robi's revenue, however, grew only 1 per cent year-on-year to Tk 99.5 billion last year, and it paid a 15 per cent cash dividend for 2024, the highest since its listing in 2020.
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