Dhaka, 29 October 2022: Robi has maintained its growth momentum in Q3’22 with revenue rising by 4.8% compared to last quarter, compared to the same quarter last year, revenue grew by 5.9%; profit after tax (PAT) for the quarter stood at 29.2 crore taka.
Robi’s revenue in Q3’22 stood at 2,207.4 crore taka. Voice revenue increased by 6.0% compared to last quarter and by 8.7% compared to the same quarter last year. Data revenue grew by 2.8% compared to last quarter, while the same increased by 3.8% compared to same quarter last year.
Including Q3’22, Robi’s revenue for the first nine months of 2022 reached 6,331.7 crore taka and profit after tax (PAT) reached 56.9 crore taka for the same period.
Robi’s subscriber base declined by 0.3% compared to last quarter to reach 5 crore 44 lakhs at the end of Q3’22. Quality subscriber acquisition drive led to this slight dip in the subscriber base. Compared to the same quarter last year, subscriber base grew by 2.5%.
Data subscriber base grew by 1.5% compared to last quarter to reach 4 crore 11 lakhs. Compared to the same quarter last year, data subscriber base grew by 4.8%.
Robi maintained its 4G leadership in Q3’22 with 50.9% of its total subscribers being 4G users. Around 75.5% of Robi’s subscriber base were internet subscribers in Q3’22 and 67.3% of data users were 4G users. Robi ensured 98.2% population coverage of its 4G network with 15,219 4G sites.
At the end of Q3’22, the company had 2 crore 76 lakhs 4G subscribers. Compared to last quarter, Robi’s 4G subscribers grew by 4.9%, and compared to the same quarter last year, 4G subscribers grew by 23.2%.
In Q3’22, each Robi data subscriber consumed 5.7GB data every month on an average. Compared to the same quarter last year, data usage per subscriber, per month, increased by 34.2%.
EBITDA in Q3’22 grew by 0.3% compared to the last quarter to reach 969.8 crore taka with 43.9% margin. Compared to the same quarter last year, EBITDA grew by 12.6%. EBITDA margin declined by 2.0 percentage point compared to last quarter, while compared to the same quarter last year, the margin grew by 2.6 percentage point.
The company’s earnings per share (EPS) in Q3’22 was 0.06 taka, and the same for the first nine months was 0.11 taka.
Robi paid 1,012.2 crore taka to the Government exchequer in Q3’22, which was 45.9% of the total revenue for the quarter. The company made capex investment of 555.5 crore taka in the same quarter.
Commenting on the company’s financial performance, Robi’s Acting CEO and CFO, M. Riyaaz Rasheed said: “We are very encouraged with the growth we are having in the market. However, profitability remains subdued due to large scale capex injection in our business. High depreciation and amortization cost induced by sustained capex investment is squeezing the profit margin. Unfortunately, there is no alternative to this strategy if we want to increase the scale of our business, which is critical to securing long-term sustainable growth in profit margin. We are determined to get to the end of this long-haul journey; we urge our shareholders to company us in this exhilarating journey ahead.”
Reflecting on Robi’s competitive positioning in the industry, Riyaaz said: “When one considers the quality of service and network coverage factors together, Robi offers an unbeatable proposition for the customers in the market. Naturally, the customers are increasing leaning towards us which is amply demonstrated in that fact that 50.9% of our total subscribers are 4G users.”