Robi Axiata Ltd., Bangladesh’s second-largest mobile operator by subscribers, reported a 153% increase in profit for the first quarter of 2024, driven by strong data revenue and reduced costs.
Profit rose to Tk 1.06 billion ($1.27 million) from Tk 420 million ($0.50 million) in the same period last year. Revenue grew 7% to Tk 25.16 billion ($29.8 million).
Robi attributed the profit surge to data revenue growth of 25.7% year-on-year. The company boasts the highest proportion of data users (75%) and 4G users (81%) in the industry.
“We ensured consistent data speed and nationwide coverage, leading to significant improvement,” said Robi CEO Rajeev Sethi.
Earnings before interest, tax, depreciation, and amortization (EBITDA) increased 16% to Tk 12.20 billion ($14.5 million) with a margin of 48.5%.
Robi remains confident its data-focused strategy will continue to drive growth despite macroeconomic challenges.
