Robi makes profit in 1st quarter of 2020
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
WEDNESDAY, MAY 18, 2022
WEDNESDAY, MAY 18, 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 makes profit in 1st quarter of 2020

Stocks

TBS Report
28 May, 2020, 06:55 pm
Last modified: 28 May, 2020, 07:01 pm

Related News

  • Most listed textile cos post profit in Q3
  • Shahjibazar Power posts 55% growth in Q3 profit
  • Increased raw material cost drags down Olympic Industries’ profit
  • Decreased cost of goods sold boosts Apex Footwear's profit by 173%
  • Cuts in administrative, tax expenses help Robi boost profit

Robi makes profit in 1st quarter of 2020

The telecom operator made a profit of Tk17.98 crore, which was a Tk23.36 crore loss during the same period of 2019

TBS Report
28 May, 2020, 06:55 pm
Last modified: 28 May, 2020, 07:01 pm
Robi Corporate Office. Photo: Mahmuduz/Wikimedia
Robi Corporate Office. Photo: Mahmuduz/Wikimedia

Robi Axiata, the second largest telecom company of the country, has made a significant profit from January to March 2020, which is the first quarter of their current financial year.

In this period, the mobile phone service provider made a profit of Tk17.98 crore, compared to a loss of Tk23.36 crore during the same period in 2019.

The Malaysia-based Axiata group recently published its unaudited financial report for the first quarter, along with the financial performance of Robi.

In a media release, Axiata group said that revenues of Robi grew by 7.3 percent to Tk1,865.72 crore, driven mainly by data subscription growth.

Tan Sri Ghazzali Sheikh Abdul Khalid, chairman of Axiata, said, "As the pandemic hit our markets, the board applauds how the group placed aside commercial interests to take immediate, extensive and coordinated action to meet the multifaceted needs of customers and communities.

"Robi also experienced yet another excellent quarter with expansion recorded across all key metrics, boosted by data upsurge and lower network related cost, and therefore, is now back to black."

Tan Sri Jamal added that Axiata will continue to invest mainly in the 4G mobile network and enterprise solutions now more than ever, as economies everywhere attempt "herculean efforts" to bounce back in the new normal.

"We brace for tough business in the short-term in choosing to respond responsibly to society's needs even as it eats into our revenue. We are also aware it will get even tougher in the mid-term when livelihoods are further impacted as some sectors falter and fail, leading to salary cuts and job losses," he added.

But in the long-term, as the whole economy recovers with some sectors fully recovered, more jobs will return, and people will get back into employment with possible shapes of new businesses starting to emerge, Jamal said.

"Bandwidth will become as critical as utilities, heightened demand will build up for solutions, tools, platforms and applications. From individuals to organisations, they are now firm believers in and adopters of digitisation with customers themselves already 'digitally accelerated.'"

Jamal said he believes the telco industry will rise as one of the biggest winners in this new world. "It would also be the engine of growth for the global economy."

Axiata owns 68.69 percent shares of Robi. The telecom service provider has a paid-up capital of Tk4,700 crore.

Robi is going to issue shares of Tk523.79 crore at face value of Tk10 each in the stock market.

Of that, it has already issued shares worth Tk136 crore at the same rate to their employees under an employee share purchase plan (ESPP), while the remaining shares will be offered to the public.

Robi applied to the Bangladesh Securities and Exchange Commission (BSEC) to consider the issuance in ESPP as a part of the IPO in order to make the total stocks floated 10 percent of the post-IPO number of shares.

Economy / Top News

Robi / 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

  • Social safety budget to stay same despite inflation rise
    Social safety budget to stay same despite inflation rise
  • Graphics: TBS
    Facebook and Bangladeshi politicians: A new tide in mass political communication?
  • RMG makers worried over move on power tariff hike
    RMG makers worried over move on power tariff hike

MOST VIEWED

  • Photo: Collected
    High price boosts Salvo Chemical's profits
  • Infographic: TBS
    Yeakin Polymer to be acquired at face value
  • Photo: TBS
    Last hour bargain hunting saved the day in DSE, CSE
  • Paramount Textile stocks fall after DSE publishes wrongful information
    Paramount Textile stocks fall after DSE publishes wrongful information
  • Logo of Investment Corporation of Bangladesh’s (ICB). Picture: Collected
    ICB writes to lenders for revolving funds
  • Investors’ rush to exit drags DSEX to 9-month low
    Investors’ rush to exit drags DSEX to 9-month low

Related News

  • Most listed textile cos post profit in Q3
  • Shahjibazar Power posts 55% growth in Q3 profit
  • Increased raw material cost drags down Olympic Industries’ profit
  • Decreased cost of goods sold boosts Apex Footwear's profit by 173%
  • Cuts in administrative, tax expenses help Robi boost profit

Features

Graphics: TBS

Facebook and Bangladeshi politicians: A new tide in mass political communication?

39m | Panorama
Despite Bangladesh having about 24,000 km of waterways, only a few hundred kilometres are covered by commercial launch services. Photo: Saad Abdullah

Utilising waterways: When common home-goers show the way

20h | Panorama
Illustration: TBS

How Putin revived Nato

22h | Panorama
The reception is a volumetric box-shaped room that has two glass walls on both the front and back ends and the other two walls are adorned with interior plants, wood and aluminium screens. Photo: Noor-A-Alam

The United House: Living and working inside nature

22h | Habitat

More Videos from TBS

Genome sequencing: best ways to diagnose pediatrics

Genome sequencing: best ways to diagnose pediatrics

29m | Videos
Reasons behind the sudden fall in stock market

Reasons behind the sudden fall in stock market

29m | Videos
The first mosque in India was built Prophet Mohammad time

The first mosque in India was built Prophet Mohammad time

13h | Videos
After six decades ,the Archies is back

After six decades ,the Archies is back

13h | Videos

Most Read

1
Representative Photo: Pixabay.
Bangladesh

Microplastics found in 5 local sugar brands

2
Mushfiq Mobarak. Photo: Noor-A-Alam
Panorama

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

3
The story of Bangladesh becoming a major bicycle exporter
Industry

The story of Bangladesh becoming a major bicycle exporter

4
How Bangladesh can achieve edible oil self-sufficiency with local alternatives
Bazaar

How Bangladesh can achieve edible oil self-sufficiency with local alternatives

5
Govt tightens belt to relieve reserve
Economy

Govt tightens belt to relieve reserve

6
Impact of falling taka against US dollar
Banking

Taka losing more value as global currency market volatility persists

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