Robi gains as Grameenphone reports profit decline

Dhaka : Robi Axiata posted stronger revenue and earnings in the first nine months of the year, contrasting with a downturn at market leader Grameenphone, as Bangladesh's two largest telecom operators reported differing financial performances.

Robi's revenue increased approximately 7 percent year over year from January through September, while Grameenphone's revenue declined 1.6 percent, according to their financial results. Robi's profit rose 19 percent, whereas Grameenphone recorded a 4 percent decrease.

Despite the gains, Robi continued to trail its rival in profitability. The company's profit margin was 9 percent during the period, compared with Grameenphone's 18 percent, meaning GP retained twice as much profit per taka of revenue.

Robi Managing Director and CEO Ziad Shatara attributed the company's performance to resilient business fundamentals and growing demand for digital connectivity.