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Robi Axiata posted a remarkable 154 per cent year-on-year growth in profit to Tk 1.06 billion for January-March of FY24, supported by robust revenue growth and a significant decrease in foreign currency transaction loss.
The second-largest telecom operator in the country registered more than 7 per cent revenue growth year-on-year to Tk 25.16 billion in January-March this year, while the data revenue shot up by 25.7 per cent indicating strong data-led growth momentum.
“This stellar performance reflects the highest level of trust Robi’s subscribers have for our strong network,” said Rajeev Sethi, managing director and CEO of Robi Axiata.
Robi’s digital transformation journey continued to gather momentum. The telecom operator has been making efforts to improve its services and expand its customer base.
The second-largest telecom operator maintained the leading position when it comes to 4G subscribers. As part of the company’s drive to strengthen its network, Robi has added 577 new 4G sites in the March quarter.
“Such focused drive to improve quality of services has resulted in Robi having more than 81 per cent of its data customers as 4G users, which is highest in the industry”.
Moreover, more than 75 per cent of Robi’s total subscribers were data users, propelled by the best video streaming services in the telecom industry.
“Bangladesh has a lot of room for growth in terms of data consumption when we look at the neighbouring countries,” said Mr Sethi.
Mr Rajeev urged the regulator to reform the regulatory framework to facilitate substantial and speedy contribution of mobile operators towards achieving the goal of smart Bangladesh.
For the last several years, Robi has been investing heavily for spectrum, and expanded its digital business, making it a strong player in the telecom industry.
Robi contributed Tk 16.05 billion to the national exchequer, equivalent to 63.8 per cent of its total revenue in March quarter, in the form of taxes, VAT, duties, licenses, and spectrum assignment fees.
Robi invested Tk 3.66 billion as capital expenditure during the quarter.