Robi Axiata registered double-digit bottom-line growth in the first quarter of 2022 as data users increased, but the Bangladesh-based operator complained taxation took a toll on net profit.
Acting CEO and CFO Riyaaz Rasheed stated government taxes were hindering the operator’s potential, though management was broadly content with its financials during the period.
Net profit rose 16.2 per cent year-on-year to BDT398.3 million ($4.6 million), with revenue up 1.9 per cent to BDT20.2 billion. Total taxes of BDT9.6 billion, accounted for 47.4 per cent of revenue.
Its subscriber base increased 4.1 per cent to 54.1 million, with data users rising 8.3 per cent and accounting for 73.4 per cent of the total.
Average data usage rose 37.1 per cent to 4.6GB a month.
Voice revenue grew 8.4 per cent and data fell 4.6 per cent, reversing recent trends.
Capex dropped to BDT1.1 billion from BDT1.5 billion in Q1 2021.
The number of LTE base stations increased by 1,400 to 14,900 sites.