Bizdata Insights Main Logo

BizData Insights

Tk deflation and high inflation severely affected Robi in 2022

Industry: Telecom, Telecom & Mobile
Industry Intelligence Tag: Industry insights

The second-largest telecom provider in Bangladesh, Robi Axiata, reported flat financial results in 2022, with a paltry 1.66 percent increase in net profit over the previous year. 

The network operator had predicted a profit of around Tk 361 crore for the just-ended fiscal year, but it could only raise Tk 182.7 crore, resulting in a possible loss of about Tk 179 crore. Robi had a terrible year in 2022 as a result of a substantial loss in foreign currency and the imposition of a minimum tax of 2% by the national exchequer.

Due to the high rate of inflation, the company found it difficult to keep costs in check, which negatively impacted its financial performance. The telecom operator reported a net asset value (NAV) per share for the fiscal year that ended on December 31, 2022, of Tk 12.82. Its net asset value (NAV) per share was Tk 12.64 up till December 2021.

 

 

 

 

Source for more details:

The Business Post

The Financial Express

 

 

Source for more details:

Related News

Mobile Operators Critique Tax Increases

June 13, 2024

Following the budget proposal on June 6, mobile operators expressed concerns over the imposition of additional taxes, including a 5% supplementary duty on mobile service usage and a Tk 100 increase in VAT on SIM connections. The Association of Mobile Telecom Operators of Bangladesh (AMTOB) stated that these measures could adversely affect consumers and the telecommunications sector.

Grameenphone Unveils New Network Tower at YouTube Village

June 12, 2024

Grameenphone has installed a new Network Tower at the YouTube Village in Kushtia to strengthen and empower the local community in content creation. The initiative aims to provide a stable and reliable network connection, enabling content creators to efficiently upload their videos and monitor the health of their channels.

Telecom Regulator Seizes Thousands of SIMs in VoIP Crackdown

June 11, 2024

The telecom regulator seized over 17,354 SIM cards in Nayapaltan and Khilgaon, targeting illegal VoIP operators. The Bangladesh Telecommunication Regulatory Commission (BTRC) Enforcement and Inspection Directorate, with RAB support, conducted the operation.

Mutual Trust Bank and GP Forge Open Banking Partnership

June 11, 2024

Mutual Trust Bank (MTB) has partnered with Grameenphone to launch credit card lead generation services via the MyGP app, marking a significant step in Bangladesh's open banking revolution. This agreement, signed by MTB's Managing Director Syed Mahbubur Rahman and Grameenphone's CEO Yasir Azman at GP House in Dhaka, aims to provide customers with enhanced convenience and accessibility.

20% Supplementary Duty on Mobile Services Criticized

June 8, 2024

The Association of Mobile Telecom Operators of Bangladesh (Amtob) has expressed concern over the government's decision to raise the supplementary duty on mobile services from 15% to 20%. Amtob argues that this increase will escalate costs for voice and internet services, particularly affecting marginalized communities and potentially reducing mobile usage.

Banglalink and NESCO Collaborate to Develop Smart Meter Infrastructure

June 6, 2024

Banglalink, a leading digital operator in Bangladesh, has partnered with the Northern Electricity Supply Company PLC (NESCO) to enhance smart meter infrastructure in Rajshahi and Rangpur Divisions. Utilizing Banglalink's fastest 4G network, certified by the Ookla® Speedtest Award™ for four consecutive years, this collaboration aims to accelerate the installation of smart pre-payment meters across NESCO's service areas.

Related News

Mobile Operators Critique Tax Increases

June 13, 2024

Following the budget proposal on June 6, mobile operators expressed concerns over the imposition of additional taxes, including a 5% supplementary duty on mobile service usage and a Tk 100 increase in VAT on SIM connections. The Association of Mobile Telecom Operators of Bangladesh (AMTOB) stated that these measures could adversely affect consumers and the telecommunications sector.

Grameenphone Unveils New Network Tower at YouTube Village

June 12, 2024

Grameenphone has installed a new Network Tower at the YouTube Village in Kushtia to strengthen and empower the local community in content creation. The initiative aims to provide a stable and reliable network connection, enabling content creators to efficiently upload their videos and monitor the health of their channels.

Telecom Regulator Seizes Thousands of SIMs in VoIP Crackdown

June 11, 2024

The telecom regulator seized over 17,354 SIM cards in Nayapaltan and Khilgaon, targeting illegal VoIP operators. The Bangladesh Telecommunication Regulatory Commission (BTRC) Enforcement and Inspection Directorate, with RAB support, conducted the operation.

Mutual Trust Bank and GP Forge Open Banking Partnership

June 11, 2024

Mutual Trust Bank (MTB) has partnered with Grameenphone to launch credit card lead generation services via the MyGP app, marking a significant step in Bangladesh's open banking revolution. This agreement, signed by MTB's Managing Director Syed Mahbubur Rahman and Grameenphone's CEO Yasir Azman at GP House in Dhaka, aims to provide customers with enhanced convenience and accessibility.

20% Supplementary Duty on Mobile Services Criticized

June 8, 2024

The Association of Mobile Telecom Operators of Bangladesh (Amtob) has expressed concern over the government's decision to raise the supplementary duty on mobile services from 15% to 20%. Amtob argues that this increase will escalate costs for voice and internet services, particularly affecting marginalized communities and potentially reducing mobile usage.

Banglalink and NESCO Collaborate to Develop Smart Meter Infrastructure

June 6, 2024

Banglalink, a leading digital operator in Bangladesh, has partnered with the Northern Electricity Supply Company PLC (NESCO) to enhance smart meter infrastructure in Rajshahi and Rangpur Divisions. Utilizing Banglalink's fastest 4G network, certified by the Ookla® Speedtest Award™ for four consecutive years, this collaboration aims to accelerate the installation of smart pre-payment meters across NESCO's service areas.

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here