Data drives Robi revenue
Robi Axiata logged 1.7 per cent higher revenue year-on-year in the first quarter of 2020 thanks to increased data use.
The newly listed company's total revenue stood at Tk 1,981 crore in the January to March period, which is 3.2 per cent higher than the preceding quarter in 2020.
However, Robi's voice revenue declined 4.2 per cent year-on-year.
Data revenue on the other hand, grew 8.5 per cent compared to the last quarter and 16.3 per cent compared to the same period of the previous year.
Robi ended the quarter with a profit after tax of Tk 34.3 crore. Adding 10 lakh customers, its subscriber base reached 5.19 crore.
Of them, 70.6 per cent are internet users.
Robi contributed Tk 1,115 crore to the government exchequer in the quarter, which represents 56.3 per cent of the quarter's revenue.
Robi Managing Director and CEO Mahtab Uddin Ahmed said their new spectrum acquisition in a recently concluded auction would enable high speed mobile internet. "
So, our internet user and revenue has been on a rising trend," he said.
"We are very proud to declare an interim 3 per cent cash dividend. We have observed that our profit after tax is being held back significantly by the impact of the 2 per cent minimum tax on gross revenue.
"Not just that, this unjust tax has also denied us the benefit of slightly reduced corporate tax rate (40 per cent) offered to listed telecom companies," he added.
"It is more concerning that our general shareholders are being deprived of the value despite significant contributions to the bourses," Ahmed said.
"We once again urge the authorities concerned to unshackle our business from this unjust tax."