Robi’s profit rises as costs fall

Robi Axiata, the country's second largest mobile network operator, said its profits soared by 44 per cent year-on-year to Tk 167 crore in the first nine months of this year despite a fall in its operating profit.

Operating costs and net finance expenses declined in the January-September period apart from a reduction in tax payments, which contributed to the increased profit, according to the third quarter's unaudited financial statements published by Robi yesterday.

With more than five crore mobile subscribers as of August, Robi's earnings in the July-September quarter doubled to Tk 86 crore.

The company said its revenue rose 8 per cent year-on-year to Tk 6,096 crore in the January-September period.

Its operating profit, however, declined 19 per cent during the first three quarters of 2021 as its cost of revenue -- total cost for delivering services to consumers -- shot up during the period.

Cost of revenue increased 16 per cent year-on-year to Tk 3,981 crore in the January-September period this year, the company's financial statement shows.

The mobile network provider also recorded higher selling and distribution expenses during the period.

Robi's share value remained unchanged on Thursday, the last trading day of the previous week, closing at Tk 39.50.