Robi Posted 78.1% Profit Growth Amid Challenges In Q3 20241 min read

Robi, the second-largest telecom company in Bangladesh, achieved substantial profit growth in Q3 2024, despite challenges like political unrest, internet shutdowns, and severe flooding. The company reported a profit of Tk 1,886.8 million for the quarter.

Revenue Decline Amid Adversity

Robi’s revenue saw a 2.7% year-on-year decline, primarily due to political unrest and the subsequent internet shutdown lasting almost a month. As internet services are now a major revenue driver, this led to a 10.5% year-on-year drop in data revenue and a 1.53% decrease from Q2 2024. Average Revenue per User (ARPU) fell to Tk 141 in Q3 2024 from Tk 149 in Q3 2023.

Robi 1

Robi 2

However, Average Minutes per User (AMPU) rose to 157 minutes from 153 minutes over the same period. MB usage per subscriber declined by 5.6% year-on-year and dropped 12.6% from Q2 2024, largely due to the prolonged internet shutdown.
Robi 3

Steady Subscriber Growth Despite Challenges

Despite the difficulties in Q3 2024, Robi’s subscriber base grew to 57.9 million from 57.6 million in Q3 2023. Internet subscribers now account for 76.7% of the total, with 44.4 million users, and 4G users increased by 8.3% year-on-year, from 34.2 million in Q3 2023 to 37.0 million in Q3 2024.

Robi 4

Significant Profit Growth in Q3 and 9M of 2024

Robi achieved a 27.1% year-on-year growth in operating profit, despite declining revenue, by effectively managing operating expenses. Operating profit for Q3 2024 stood at Tk 6,113.6 million, with the company recording a net profit of Tk 1,886.8 million, largely due to reduced operating expenses and foreign exchange losses.
Robi 5

For the first nine months of 2024, Robi sustained its growth trajectory, posting an operating profit of Tk 16,084.7 million—a 39.1% increase from 9M 2023—and a net profit of Tk 4,028.3 million. Robi’s profit margin rose to 5.3% in 9M 2024 from 2.3% in 9M 2023, marking the highest profit margin achieved in the last four years.

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