Robi Axiata, one of Bangladesh’s leading telecom operators, achieved a significant milestone in 2023 with record-breaking revenues of Tk9,942 crore. This marks a remarkable 16% increase compared to the previous year, setting a new benchmark in the company’s history.
According to a statement released on Thursday, Robi witnessed a notable surge in both voice and data revenues, with a 9% rise in voice revenues and an impressive 28.2% increase in data revenues.
The company’s net profit also soared to Tk321 crore, reflecting a remarkable 76% annual growth.
Rajeev Sethi, the managing director and CEO of Robi, attributed this exceptional performance to the unwavering confidence of subscribers in the network. He emphasized that Robi secured the highest number of subscriptions among all operators in 2023, underscoring the trust and satisfaction of customers.
During the year, Robi expanded its subscriber base by adding 43 lakhs new users, reaching a total of 5.87 crores, which accounts for 31% of the country’s overall mobile phone subscriber base.
The company also witnessed significant growth in its data subscriber base, which reached 4.47 crores, marking an 8.9% increase compared to the previous year. Additionally, the 4G subscriber base surged by 23.7% year-on-year, reaching 3.57 crores.
Robi’s strategic investment in network expansion played a pivotal role in reducing the call drop rate to an impressive 0.2%, surpassing international standards set by the International Telecommunication Union (ITU).
In terms of financials, Robi declared a 10% cash dividend for its shareholders for the calendar year 2023. The company will hold its annual general meeting on 24 April to approve the dividend and audited financial statement, with the record date set for 18 March.
Despite its remarkable performance, Robi’s shares remain stuck at the floor price of Tk30 each at the Dhaka Stock Exchange. However, the floor price is expected to be removed following an order from the regulator after the AGM record date.
CEO Rajeev urged the Bangladesh Telecommunication Regulatory Commission (BTRC) to reform the regulatory framework to ensure fair competition and encourage substantial contributions from mobile operators towards building a “Smart Bangladesh.” He emphasized the importance of maintaining a level playing field to foster healthy competition in the market.