Robi profits supported by lower income tax

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Robi Axiata, the country’s second-largest mobile network provider by subscribers, said its net profit rose 16% year-on-year to Tk 34.29 crore in the first quarter (Jan-March) of the fiscal year. ongoing, because he had to pay less income tax.

However, rising cost of sales forced Robi’s operating profit to drop 1% to Tk 248.99 crore in the January-March period from Tk 250.71 crore in the same period last year. previous year, according to a company disclosure.

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Robi’s cost of sales rose 5% to more than double its revenue in the quarter, he said.

The company’s share price fell slightly to Tk 32.70 from an opening price of Tk 32.80 on the Dhaka Stock Exchange yesterday.

The mobile network provider’s earnings per share rose to Tk 0.08 in the first quarter from Tk 0.07 in the same period a year earlier.

Robi, which made its commercial debut at the end of 2020, posted revenue of Tk 2,018.8 crore for the first quarter, up 2% year-on-year.

The company said its net operating cash flow per share fell to Tk 1.61 for the January-March 2022 period from Tk 1.68 in the same period a year earlier.

However, Robi’s consolidated net asset value has increased, he added.

Robi recorded revenue of Tk 8,142 crore in 2021, up 7.6% from the previous year.


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