Robi's net profit rose fourfold to Tk 365 crore in 2013 from a year ago, backed by cost cuts and customer acquisition, the mobile operator said yesterday.
The company's gross revenue increased 16 percent to Tk 4,520 crore in 2013 from the previous year.
Robi was able to overcome market slowdown in 2013 and achieved considerable growth in all financial and market matrices, the company said in a statement.
Profit after tax was completely wiped out in the last quarter of 2013.
The quarter in fact counted Tk 1 crore in losses, due to a drop in EBITDA (earnings before tax, depreciation and amortisation) and higher depreciation and investments in network expansion.
EBITDA dropped 38 percent to Tk 290 crore in the fourth quarter compared with the previous period, primarily due to a revenue fall, increased operational expenses and 3G-related costs.
The operator's year-to-date EBITDA grew 30 percent to Tk 1,600 crore in 2013 from the previous year.
“Robi has made tremendous progress over the last two years. We posted our first profit of Tk 91.1 crore in 2012, and I am proud to see the growth momentum continue in 2013 across all dimensions of our business,” said Supun Weerasinghe, managing director and chief executive officer of the operator.
“However, high taxation continues to be a drain on our industry, as lower taxation could facilitate investments in infrastructure that would expand connectivity and drive towards the government's vision of Digital Bangladesh,” he said.
With the new 43 lakh subscribers added in 2013, the operator has now 2.54 crore users. The company's annual capital expenditure amounted to Tk 1,280 crore, a 57.3 percent rise from 2012.
While equity injection and reinvestment continues, Robi has not paid out any dividends to its shareholders since 2006, said Mahtab Uddin Ahmed, Robi chief financial officer.
“Robi has paid out Tk 1,118.4 crore or 43 percent of total revenue to the government in direct and indirect taxes in 2013.”