Robi rings up robust profit
Published: February 26, 2015 8:00 pm
26 February 2015, Nirapad News: Net profits of major mobile-phone operator Robi climbed by 20.4 per cent last year, driven by incremental data usage and cost control efforts, the company said.
The country’s second-largest cell-phone firm by revenue also recorded operating profit (earnings before interest tax depreciation and amortization) of 18.3 per cent growth that helped the company reach Tk 18.9 billion, up from Tk 16. billion a year ago.
Robi announced its financial results for the fourth quarter (4Q) and 2014 financial year at a city hotel Wednesday.
The company’s revenue grew 9.4 per cent on year on year (YoY) to reach Tk 49.4 billion in 2014 from Tk 45.2 billion in 2013, with a remarkable growth in data revenue of over 120 per cent.
“With this continued revenue growth which is faster than overall market growth, Robi further strengthened its positioning as the second largest operator in terms of revenue market share in Bangladesh,” chief executive officer of Robi Axiata Limited Supun Weerasinghe said. He, however, expressed his concern over the ongoing political standoff, saying that it would badly affect the existing growth this year.
“We are investing significantly towards expanding our 3.5G network and to support growth in data usage. However, current political situation is a concern and it could impact our business growth in 2015,” Mr Weerasinghe said.
The Robi boss said the company’s quarter on quarter revenue also increased by 9.7 per cent to Tk 13.3 billion mainly because of strong growth in data and postpaid voice revenue.
Meanwhile, on QoQ basis, EBITDA decreased by 7.0 per cent to Tk 4.5 billion in Q4 2014 due to higher network cost to support 3.5G operations. CEO said on YoY basis, the company delivered a strong 13.2 per cent growth in subscriber base over 2013 to reach 25.3 million.
“Customer centric product and service offerings and better data network experience helped Robi to deliver a strong growth in subscriber base,” the top official said.
“Robi continues to invest heavily to fast-track its 3.5G network and also to improve 2.5G customer experience both in voice and data services,” he said adding that it has established over 2,400 3.5G sites providing a best in class data experience in Bangladesh.
He added that last year’s capital infusion amounted to Tk 21 billion. The company has now deployed 3.5G network coverage in all 64 districts of Bangladesh,” he added.