• Tuesday, September 23, 2014

Robi posts marginal rise in net profit

Star Business Report
Second from right, Supun Weerasinghe, chief executive of Robi, speaks on the business performance of the mobile operator at Ruposhi Bangla Hotel in Dhaka yesterday. Mahtab Uddin Ahmed, chief operating officer, was also present. Photo: Star
Second from right, Supun Weerasinghe, chief executive of Robi, speaks on the business performance of the mobile operator at Ruposhi Bangla Hotel in Dhaka yesterday. Mahtab Uddin Ahmed, chief operating officer, was also present. Photo: Star

Robi's net profits increased 2.6 percent year-on-year to Tk 113.7 crore in the second quarter of the current year.

The country's third largest mobile operator added another 17 lakh new users to its network in the first six months of 2014, Robi said in a statement yesterday.

Robi invested Tk 2,800 crore in different fields, including Tk 870 crore for 3G licence acquisition and spectrum fees, in the last 12 months.

The company achieved 5.8 percent year-on-year revenue growth to reach Tk 1,230 crore in the second quarter of this year, according to the statement.

“Due to significant price pressure in the market, the company has experienced slower growth voice revenues. In contrast, data revenue has witnessed an unprecedented growth of 122.4 percent during the same period—a clear reflection of changes in subscriber behaviour and competitive dynamics.”

“Robi has recorded stable growth across all parameters since the start of the year. We are investing significantly towards expanding our 3.5G network across the country and to support growth in data usage,” said Supun Weerasinghe, CEO of Robi.

“Given the slow growth in voice revenues and imposition of new taxes, the overall growth may be impacted in the next half of the year.”

The company installed 1,400 new base stations for 3G service across the country in the second quarter of 2014, which has affected the financial result, said Ruhul Amin, executive vice president for finance.

They spoke at a press briefing to present its financial results, at Ruposhi Bangla Hotel in Dhaka yesterday.

In the first half of 2014, Robi paid more than Tk 1,210 crore to the state coffers, representing 50.7 percent of the company's revenue, according to the statement.

Around 8 percent of the country's smartphone users use Robi connections, said Mahtab Uddin Ahmed, chief operating officer.

Making profits will be impossible if the number of 3G-enabled smartphones cannot be increased, he said.

Published: 12:00 am Thursday, August 28, 2014

TAGS: Ruposhi Bangla Hotel net profits Supun Weerasinghe chief executive of Robi 3G licence acquisition

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