Robi showcases resilience: Overcoming 2024 economic challenges

Robi Axiata PLC, a telecom operator, announced paying a 15% cash dividend equivalent to Tk785 crore to its shareholders for 2024.

The company declared the dividend at a board meeting held on Monday, according to a company source.

The source said, "It is the highest dividend payout in its history. Earlier, it had paid a 10% cash dividend in 2023."

To approve the dividend and the financial statement, it will conduct the annual general meeting scheduled for 21 April, and the record date is set for 16 March.

According to the company's statement, its revenue grew by 0.1% to Tk9,950 crore, while net profit jumped by 119% to Tk703 crore.

Commenting on the company's performance, Acting CEO M Riyaaz Rasheed said in a press release, "Our primary focus remains on delivering long-term value to our shareholders and ensuring sustainable growth.

"While we continue to navigate a dynamic market, our commitment to operational efficiency and investment in digital infrastructure positions us well for the future. It is essential that regulatory and taxation policies support a balanced and competitive telecom sector to allow operators like Robi to thrive."

Rasheed also welcomed recent regulatory reforms aimed at streamlining the telecom sector, emphasising swift implementation to maximise benefits for consumers.

He expressed concern over the increased supplementary duty from 15% to 20% and the higher SIM tax, noting that these measures could hinder Bangladesh's progress in digital adoption and the qualitative use of digital services.

Despite macroeconomic headwinds, Robi remains committed to its vision of delivering value to shareholders, investing in infrastructure, and advocating for policies that support sustainable industry growth, he added.