Robi Axiata, Bangladesh’s second-largest mobile network operator, has posted its highest-ever profit for 2024, with a remarkable 119% increase in profit to Tk703 crore. The company also proposed its largest dividend since its 2020 listing, offering a 15% cash dividend to shareholders, up from 10% in 2023.
Despite economic instability, high inflation, and market disruptions, Robi’s voice revenue grew by 0.7% while data revenue increased by 2.2%. However, its overall revenue showed a modest 0.1% increase to Tk9,950 crore. The telecom operator’s net profit after tax for 2024 was Tk703 crore, and it will pay Tk785 crore in dividends, which amounts to 111.8% of its net profit.
Robi’s subscriber base faced a decline, with a loss of about 2 million active subscribers, bringing the total to 5.67 crore. The increase in SIM tax and aggressive competition contributed to this decline. Despite these challenges, Robi has maintained a strong 4G network, covering 98.96% of the population.
Acting CEO M Riyaaz Rasheed emphasized Robi’s focus on operational efficiency and digital infrastructure investment, positioning the company for future growth. However, he voiced concerns about regulatory measures, such as higher SIM taxes, which may hinder Bangladesh’s digital adoption.
The company’s annual general meeting (AGM) is scheduled for April 21, with the record date set for March 16.
