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26 May, 2017 00:00 00 AM
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Merger renders Tk 1.7b loss: Robi

BSS
Merger renders Tk 1.7b loss: Robi

Mobile phone operator Robi claims it was forced to incur a loss of Tk 1.7 billion at the end of first quarter (Q1) in 2017 following the merger with Airtel, reports BSS.
The network integration with the Airtel has mainly rendered the loss, said the operator while revealing the quarterly financial statement yesterday, according to a media release.
"Year 2017 started with an expectation to provide the widest mobile network coverage and superior mobile services experience to our subscribers, and we have successfully completed network integration in 12 regions covering 50 per cent of Airtel subscribers," said Robi Managing Director and CEO Mahtab Uddin Ahmed. 
Robi-Airtel merger has been successfully completed in November 2016 and Robi was able to add another 2.4 million new subscribers in the Q1 to reach 36.2 million, representing 27.5 percent subscriber market share. 
During the period, the company witnessed encouraging growth in both voice (Year-on-Year (YoY) +25.2 per cent) and data revenue (YoY +83.0 per cent) driven by the merger resulting in overall revenue growth (YoY +30.7 per cent). 
Data revenue growth was propelled by significant investments in network coupled with customer-oriented data offerings to drive 3.5G and 2.5G data usage. 
Robi achieved operating profit (EBITDA) margin of 17.7 per cent in Q1, which is lower than the same period of previous year mainly for higher operating expenses resulting from the merger. 
Robi witnessed 7 per cent subscriber growth in Q1 standing at 36.2 million driven by successful Robi-Airtel merger. Besides, the Quarter-on-Quarter (QoQ) revenue increased by 6.3 per cent to Tk 15.5 billion with promising growth in both voice and data. 
On the other hand, the QoQ EBITDA improved by 4.8 percentage point to Tk 2.7 billion in Q1 with EBITDA margin 17.7 per cent.

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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