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Robi’s net profit rises 14% in Q1 of 2022

Staff Correspondent
26 Apr 2022 15:54:39 | Update: 26 Apr 2022 16:30:43
Robi’s net profit rises 14% in Q1 of 2022

Robi Axiata Limited, the country’s second-largest telecom operator, witnessed a 13.96 per cent increase in net profit in the January-March quarter (Q1) of 2022.

In the first quarter of this year, the company’s net profit rose to Tk 39.8 crore, which was Tk 34.29 crore in the same period last year.

The publicly-traded company disclosed financial results for Q1 FY22 on Tuesday.

Robi raked in Tk 2,018.9 crore revenue in the first quarter. Compared to last quarter, the company’s revenue declined slightly by 1.3 per cent.

However, compared to the same quarter last year, revenue grew by 1.9 per cent.

The company’s earnings per share (EPS) rose to Tk 0.08 in the period. If the 2 per cent minimum turnover tax were removed, net profit could have been Tk 80.2 crore and EPS could have also been doubled to Tk 0.15, said Robi in an official statement on Tuesday.

Robi’s Acting CEO and CFO M Riyaaz Rasheed said, "While we are happy with our financial performance, we continue to observe that the taxation regime is undermining our growth potential."

“In particular, in connection with the 2 per cent minimum turnover tax, we saw our PAT literally halve for the quarter. Due to this unjust tax, our PAT in Q1 FY22 was Tk 39.8 crore, instead of Tk 80.2 crore,” he said.

Rasheed also said the recent successful spectrum auction organised by the regulator was a very welcome shift towards a business-friendly regulatory regime.

“We sincerely hope that the spirit will be reflected in the upcoming budget in the form of a rational taxation regime for the sector."

Robi’s 4G leadership position further consolidated in Q1 FY22 with 45.9 per cent of its total subscribers being 4G users.

In Q1 FY22, 73.4 per cent of Robi’s subscriber base were data subscribers, which was the highest in the industry.

Robi's 4G network provided 98.2 per cent population coverage with 14,891 4G sites. In Q1 FY22, each Robi data subscriber consumed 4.6 GB of data every month on average.

Compared to the same quarter last year, data usage per subscriber, per month, increased by 37.1 per cent.

Robi’s subscriber base grew by 0.7 per cent compared to last quarter to reach 5,41,00,000 at the end of Q1 FY22. Compared to the same quarter last year, the subscriber base grew by 4.1 per cent.

The data subscriber base grew by 0.3 per cent compared to last quarter to reach 3,97,00,000. Compared to the same quarter last year, the data subscriber base grew by 8.3 per cent. The company had 2,48,00,000 4G subscribers at the end of Q1 FY22.

Robi paid Tk 957.9 crore to the government exchequer in Q1, which was 47.4 per cent of the total revenue for the quarter.