Robi posts Tk 38.9cr in profits in July-Sept

Staff Correspondent | Published: 22:25, Nov 26,2020

 
 

Mobile phone operator Robi Axiata Limited, which is in the process of being enlisted on the Dhaka Stock Exchange and the Chittagong Stock Exchange, posted Tk 38.9 crore in profit after taxes in the July-September quarter this year riding on a 9.7-per cent revenue growth.

The second largest telecom operator made the disclosure at an online press briefing held on Thursday.

Robi’s managing director and chief executive officer Mahtab Uddin Ahmed, chief corporate and regulatory officer Mohammed Shahedul Alam and acting chief financial officer and chief strategy officer Ruhul Amin  were present at the briefing, among others.

With profit after taxes in Q3, Robi’s profit after taxes stood at Tk 116 crore in the first nine months of the current year.

‘Considering Robi’s effective tax rate of 77.06 per cent in the January-September period, the operator’s profit clearly indicates that Robi is run with excellent operational efficiency,’ said Mahtab.

Had it not been for the crushing 2-per cent minimum turnover tax, this profit figure would have looked far more appealing, he said.

Commenting on the enlistment of the entity on the stock exchanges without any tax incentive, Mahtab said, ‘Robi might be the only multinational company who got enlisted without any tax benefits.’

He, however, hoped that the authorities concerned would keep their words which they gave before the initial public offering approval as otherwise, the financial health of the operator could be at risk.

Speaking about the company’s financial strength, Mohammed Shahedul Alam said that the operator made profits in 16 out of the 22 years it operated in the country.  Usually post-merger periods are very crucial for companies across the globe and it was the same for Robi as well, he said.

As per the operator’s information, its net profit was around Tk 60 crore in the April-June quarter and around Tk 40 crore in the January-March quarter.

The operator’s revenue, however, increased to Tk 1,930 crore in Q3 from Tk 1,780 crore in Q2 this year.

Robi’s active subscriber base now stands at 5.01 lakh which represents 30 per cent of the market share while 3.47 lakh of the telco’s customers use internet, representing 69.2 per cent of its total subscriber base.

Robi’s voice revenue saw a double digit growth of 12.1 per cent compared to the previous quarter, reaching Tk 972 crore in the July-September quarter while revenue fell by 8.2 per cent year-on-year.

Data revenue increased by 6.8 per cent to Tk 684 crore in Q3 this year compared to the revenue in the previous quarter while data revenue in Q3 grew by 22 per cent year-on-year.

Robi paid Tk 875.1 crore to the government exchequer in Q3 this year, representing 45.3 per cent of its total revenue for the quarter, with the amount paid to the exchequer in the first nine months totalling Tk 2,752 crore.

Mahtab said, ‘On the backdrop of our imminent entry into the country’s stock markets, we are very happy to maintain profitability in Q3 supported by enviable revenue growth.’

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