Robi posts 33% decline in net profit in 3rd quarter
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard
SATURDAY, MAY 21, 2022
SATURDAY, MAY 21, 2022
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
Robi posts 33% decline in net profit in 3rd quarter

Telecom

TBS Report
26 November, 2020, 09:20 pm
Last modified: 26 November, 2020, 09:27 pm

Related News

  • Robi initiates Iftar distribution campaign outside of Dhaka
  • Robi’s EPS drops 81% in the December quarter
  • Axiata to inject over $1.6b capex to drive growth in Bangladesh, Indonesia
  • Robi brings telehealth app ‘Digicure’ for diabetes patients
  • 10 lakh SIMs, 4 lakh internet users added in October

Robi posts 33% decline in net profit in 3rd quarter

The company alleged that it is being treated with a discriminatory taxation system

TBS Report
26 November, 2020, 09:20 pm
Last modified: 26 November, 2020, 09:27 pm
Logo of Robi. Picture: Collected
Logo of Robi. Picture: Collected

Robi Axiata Limited, the country's second-largest telecom company, which is now in the process to off-load share in the capital market, posted a 33% decline in net profit in the third quarter compared to the previous period this year.

However, the operator registered a 9.7% growth in revenue during the time.

Robi claimed that the profit figure would have looked far more appealing if it had not paid a 77.06% effective tax rate with the 2% minimum turnover tax during the time.

Robi's Managing Director and CEO, Mahtab Uddin Ahmed, alleged that they are being treated with a discriminatory taxation system as the market leader Geameenphone, also listed in the capital market, pays 40-45% tax.

He commented while addressing a press meet organised to disclose Robi's financial results for the third quarter.

In the press meet, Robi officials said that the operator ended the third quarter of this year with a profit of Tk38.9 crore while its revenue for the time reached to Tk1,934 crore.

Earlier, the company had registered a Tk58 crore profit in the second quarter. At that time, its total revenue was Tk 1,762 crore.

The operator is now in the process to be enlisted at the capital market to reduce its tax burden. It aims to raise Tk524 crore from the market through an initial public offering (IPO) at a fixed price method, to use for network expansion.

A huge response has been seen among general investors in the capital market over Robi's IPO as more than one lakh new BO accounts were opened to participate in the share subscription, according to several brokerage firms. 

More than 10 applications have been submitted against each share, according to the DSE.

"We hope that the government will allow us more fiscal headroom by addressing this stumbling block so that we can share the fruits of improved performance with our new shareholders following the stock market listing," said Mahtab Uddin Ahmed.

Meanwhile, during Robi's share subscription period, the main index and turnover of the Dhaka Stock Exchange fell for four consecutive days.

In the press meet, Robi officials claimed that 97% of its sites already came under 4G coverage.

Robi's active subscriber base increased by 4.5% than the previous quarter, reaching 5.01 crore.

Out of 5,01,00,000 active subscribers, 3,47,00,000 are internet users representing 69.2% of Robi's total subscriber base.

The operator saw double-digit growth of 12.1% in the voice revenue, compared to the previous quarter, reaching Tk972 crore in Q3'20.

However, compared to the same quarter of last year, its voice revenue dipped by 8.2%, indicating a sharp decline in 2G based voice call service caused by the corona pandemic.

Data revenue reached Tk684 crore in Q3'20, following a 6.8% increase, compared to the previous quarter. Compared to the same quarter of the last year, data revenue grew by 22% in Q3'20.

In the first nine months (Jan-Sept) of this year, Robi's total revenue reached Tk5,644 crore; compared to the same period of last year, this translates into 1.0% growth.

Robi Axiata Limited is a joint venture of the Asian telecom giant Axiata Group Berhad, based in Malaysia, and the global telecom giant Bharti Airtel, based in India; with Axiata holding the majority shares.

Robi has 30% of the country's total mobile subscribers.

Bangladesh / Top News

Robi Axiata Limited / net profit

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Policies on cards to pave way for private heliports, helipads
    Policies on cards to pave way for private heliports, helipads
  • Concerns over india's wheat export ban
    Tough conditions get in way of Indian wheat import
  • Zahid Hussain/TBS Sketch
    Our problematic macroeconomic duo

MOST VIEWED

  • Grameenphone observes 'Security Day' to raise awareness on digital security
    Grameenphone observes 'Security Day' to raise awareness on digital security
  • Mahtab Uddin. Illustration: TBS
    Mahtab steps down as Robi MD and CEO
  • Internet users jump by 34 lakh in March 
    Internet users jump by 34 lakh in March 
  • Halima Telecom sets eyes beyond boundary
    Halima Telecom sets eyes beyond boundary
  • Robi's net profit jumps by 106% in first quarter
    Robi's net profit jumps by 106% in first quarter
  • Choice between low-cost data and quality service: Banglalink CEO
    Choice between low-cost data and quality service: Banglalink CEO

Related News

  • Robi initiates Iftar distribution campaign outside of Dhaka
  • Robi’s EPS drops 81% in the December quarter
  • Axiata to inject over $1.6b capex to drive growth in Bangladesh, Indonesia
  • Robi brings telehealth app ‘Digicure’ for diabetes patients
  • 10 lakh SIMs, 4 lakh internet users added in October

Features

Green-backed Heron on a tilting stalk. Photo: Enam Ul Haque

Green-backed Heron: Nothing but a prayer to catch a fish  

49m | Panorama
Illustration: TBS

‘High logistics cost weakens Bangladesh’s competitiveness’

2h | Panorama
Every morning is a new beginning for all

Seashore

3h | In Focus
2023 Rolls-Royce Phantom debuts with new illuminated grille

2023 Rolls-Royce Phantom debuts with new illuminated grille

1h | Wheels

More Videos from TBS

Ways to retain body fragrance

Ways to retain body fragrance

22h | Videos
Gazipur restaurant that serves 150 food items

Gazipur restaurant that serves 150 food items

1d | Videos
How to prepare for a job

How to prepare for a job

1d | Videos
Putin's strategies to face Nato

Putin's strategies to face Nato

1d | Videos

Most Read

1
Tk100 for bike, Tk2,400 for bus to cross Padma Bridge
Bangladesh

Tk100 for bike, Tk2,400 for bus to cross Padma Bridge

2
A packet of US five-dollar bills is inspected at the Bureau of Engraving and Printing in Washington March 26, 2015. REUTERS/Gary Cameron
Banking

Dollar hits Tk100 mark in open market

3
The story of Bangladesh becoming a major bicycle exporter
Industry

The story of Bangladesh becoming a major bicycle exporter

4
PK Halder: How a scamster rose from humble beginnings to a Tk11,000cr empire
Crime

PK Halder: How a scamster rose from humble beginnings to a Tk11,000cr empire

5
Representative Photo: Pixabay.
Bangladesh

Microplastics found in 5 local sugar brands

6
Mushfiq Mobarak. Photo: Noor-A-Alam
Panorama

Meet the Yale professor who anchors his research in Bangladesh and scales up interventions globally

The Business Standard
Top
  • Home
  • Entertainment
  • Sports
  • About Us
  • Bangladesh
  • International
  • Privacy Policy
  • Comment Policy
  • Contact Us
  • Economy
  • Sitemap
  • RSS

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net

Copyright © 2022 THE BUSINESS STANDARD All rights reserved. Technical Partner: RSI Lab