"Despite solid revenue growth and a steady rise in subscriber base," telecom operator Robi has reported a loss of Tk12.16 crore in the April-June quarter of this year due to the devaluation of taka against dollar, reports UNB.
The company's loss per share was Tk0.02 in that quarter, while its earnings per share were Tk0.09 at the same time a year ago, according to the unaudited financial statements.
In Q2, the telecom operator's revenue was Tk2,105 crore, but due to changes in forex, it ended up losing Tk12.2 crore.
Had it not been for the forex changes, the telecom operator said its profit after tax (PAT) for the period would have been Tk86.13 crore.
Robi's revenue for the first six months of 2022 stood at Tk4,124 crore and PAT at Tk28 crore.
Were it not for the losses induced by the forex changes, Robi's PAT figure for the first six months would have been Tk131.88 crore, the company said.
Compared to the last quarter, the company’s revenue increased by 4.3 percent. And revenue grew by 3.7 percent compared to the same quarter of 2021.
Voice revenue grew 4.6 percent compared to the last quarter and by 11.8 percent compared to the same quarter of last year.
Data revenue grew by 3.7 percent compared to the last quarter. It dropped by 4.5 percent compared to the same quarter last year.
Robi's subscriber base grew by 0.8 percent compared to last quarter, reaching 5.45 crore 45 at the end of the second quarter. Compared to the same quarter last year, the subscriber base grew by 5.2 percent.
Robi's Acting CEO and CFO, M Riyaaz Rasheed said: "Losing our hard-earned profit to the devaluation of taka against the dollar is very painful. Since we rely on the international market to source telecom equipment, forex volatility is a major concern for us at the moment."
