Robi-Axiata, the second-largest telecom operator in Bangladesh, announced a profit of Tk 42.03 crore in the first quarter of the current financial year. The company’s revenue grew by 4.1% during the period, reaching Tk 2,347.7 crore, a 16.3% increase compared to the same quarter last year.
Despite its strong performance, Robi faced challenges due to factors beyond its control. The implementation of a 2% minimum tax and a forex loss of Tk 76 crore impacted the company’s profit after tax (PAT), which stood at Tk 42 crore instead of the expected Tk 89.2 crore.
Robi’s digital credentials received a significant boost, with the highest single app user base in the industry, reaching 1,47,50,000 by the end of the first quarter. The company also maintained its leadership position in the 4G market, with 55.4% of its subscribers being 4G users.
The CEO of Robi expressed optimism about the company’s future, highlighting its strong digital journey. He called for the removal of the 2% minimum tax from the industry in the upcoming budget to alleviate the pressure faced by telecom operators.