Robi profit drops 20pc

Mobile phone operator Robi Axiata has experienced a 20 per cent year-on-year fall in profits in April-June quarter of this year despite posting higher revenue and lower net finance costs during the period.

Its net profit dropped to Tk 46.63 crore in the second quarter of the year, which was Tk 58.37 crore in the same period last year.

In the second quarter of the year, revenue of the country's second largest telecom company rose by 15 per cent year-on-year to Tk 2,030 crore.

Its net finance cost dropped by 36 per cent to Tk 94 crore. Though its operating expenses fell in the period, its administrative cost increased by 64 per cent to Tk 94.85 crore.

Yesterday, stock of Robi fell 0.67 per cent to Tk 44.30 at the Dhaka Stock Exchange (DSE).

Though its profit dropped in the second quarter, its half-yearly profits increased by around 5 per cent year-on-year to Tk 80.93 crore.

Now, its earnings per share stood at Tk 0.15 in the first half, according to the company's financial report.

During the period, the operator's revenue hit Tk 4,011 crore -- an 8.12 per cent year-on-year jump.

The company yesterday uploaded its financial report on its website.

When Robi got regulatory approval for an initial public offering, its net profit was standing at around Tk 20 crore, earnings per share Tk 0.04 as per audited reporting year of 2019 and turnover Tk 7,481 crore.

The company raised Tk 523.7 crore from the stock market by offloading 52.37 crore shares for Tk 10 apiece last year.

Of the amount, around Tk 136 crore came from the telecom operator's employees while the remaining Tk 387.7 crore from the market.

Robi was the first operator to roll out 3.5G services in Bangladesh. It then introduced 4.5G services across 64 districts in 2018.

It was also the country's first operator to test 5G service on its network.

The carrier started its journey in 1997 under the brand name Aktel. It changed its name to Axiata (Bangladesh) in 2009 and then to the present Robi Axiata in 2010.