Robi Axiata achieved a record profit of Tk 7.03 billion in 2024, marking a 119% year-on-year increase. Despite this, the company’s revenue grew less than 1%, reaching Tk 99.50 billion due to disruptions like internet blackouts during student protests and flash floods. Voice revenue rose by 0.7%, while data revenue grew by 2.2%.
M. Riyaaz Rasheed, acting CEO of Robi Axiata, credited the profit jump to improved operational efficiency and reduced expenses. The company’s EBITDA reached Tk 50.82 billion, with a margin of 51.1%, reflecting strong cost management. Robi declared a 15% cash dividend for 2024, the highest since its stock market listing.
However, the rise in SIM taxes and aggressive competition led to a decline in Robi’s subscriber base by about 2 million, down to 56.7 million. The number of internet subscribers decreased by 2.1 million, though Robi added over 0.5 million 4G users. Despite these challenges, Robi remains focused on long-term growth and digital infrastructure investment.
The company invested Tk 16.38 billion in 2024, with Tk 62.87 billion contributed to the government, representing 63.2% of its annual revenue. Despite the record profit, Robi’s stock declined by 1.01% on the Dhaka Stock Exchange.
