Key Takeaways
- Robi Axiata Limited saw a four-fold increase in Q2 net profits.
- The company’s profits rose due to higher sales and lower spending for raw materials.
- Robi Axiata Limited is Bangladesh’s 2nd largest mobile operator.
Dhaka: Bangladesh’s second-largest mobile phone operator Robi Axiata Limited has recorded a four-fold increase in its net profits in the second quarter of 2024. This significant growth is attributed to higher sales and lower spending for raw materials.
Robi said on Monday that the company’s profit after tax hit 1.07 billion taka (9.09 million US dollars) in the April-June period, which is over four times higher compared to the same period’s 240 million taka in 2023.
According to the financial report of the cell phone company, its sales rose while costs of revenue or raw materials dropped, which contributed to a rise in profits.
Currently, Bangladesh has four mobile companies, three of which including Grameenphone, Robi and Banglalink are foreign-backed cell phone operators.
According to Bangladesh Telecommunication Regulatory Commission (BTRC) data, the number of mobile subscribers in the country reached 195.09 million in May this year.
The number of subscribers of the mobile operators, Grameenphone, Robi Axiata, Banglalink and Teletalk stood at 84.91 million, 58.88 million, 44.73 million and 6.57 million respectively at the end of May, BTRC data showed.
