Q2 earnings of Robi plunges

Mobile phone operator Robi Axiata’s second quarterly (April-June) earnings plunged by 25%.

In a filing with Dhaka Stock Exchange (DSE) on Wednesday, the company said that its consolidated earnings per share (EPS) was Tk0.09 for April-June 2021 as against Tk0.12 for the same period of the previous financial year. 

Meanwhile, its consolidated net asset value (NAV) per share was Tk12.45 as of June 30, 2021, and Tk13.90 as of December 31, 2020.

With the country’s biggest initial public offering (IPO) of Tk523 crore, Robi debuted on the stock market back on December 24 last year. 

For the first few days, Robi kept hitting the DSE circuit breaker as its share prices kept rising.

According to the financial website Investopedia, a circuit breaker is an emergency-use regulatory measure to temporarily halt trading on an exchange. 

Circuit breakers are in place to try to curb panic-selling. They can also be triggered on the way up with manic-buying. 

The closing price of each of Robi’s shares was Tk43.4 after the end of Wednesday’s session.