Unaudited Q3 23 Financial Statement

Robi Axiata Limited
Interim Condensed Consolidated Financial Statements

as at and for the period ended 30 September 2023
(Un-audited)
Robi Axiata Limited
Interim Condensed Consolidated Statement of Financial Position
As at 30 September 2023
In BDT'000
Consolidated Company
Note 30 September 2023 31 December 2022 30 September 2023 31 December 2022
Assets
Property, plant and equipment (PPE), net 4 110,149,794 108,852,659 109,386,237 108,193,300
Intangible assets, net 5 50,289,500 36,076,067 50,289,500 36,076,067
Right-of-use asset (ROU), net 6 34,545,160 31,444,653 35,275,969 31,408,560
Deferred tax assets 7 988,511 3,211,038 974,912 3,198,043
Other non-current asset 8 4,826,327 3,419,827 4,826,327 3,419,827
Investment in subsidiary - - 300,000 300,000
Non-current assets 200,799,292 183,004,244 201,052,945 182,595,797
Inventories 9 389,236 503,914 374,634 491,153
Accounts and other receivables, net 10 8,963,072 7,383,411 9,087,348 7,543,842
Advances, deposits and prepayments 11 (411,940) 2,255,168 (528,515) 2,765,148
Employee benefits 18 350,388 191,006 360,639 201,660
Short term investments - FDRs 12 379,700 373,452 379,700 373,452
Cash and cash equivalents 13 6,515,319 3,563,406 6,286,520 3,321,966
Current assets 16,185,775 14,270,357 15,960,326 14,697,221
Total assets 216,985,067 197,274,601 217,013,271 197,293,018
Equity
Share capital 14 52,379,329 52,379,329 52,379,329 52,379,329
Other reserves 15 6,662,397 6,662,397 6,662,397 6,662,397
Retained earnings 6,141,850 8,084,815 5,893,221 7,842,285
Total equity 65,183,576 67,126,541 64,934,947 66,884,011
Liabilities
Interest bearing term loans 16 8,895,352 10,085,541 8,895,352 10,085,541
Asset retirement obligation 17 513,471 479,416 513,471 479,416
Lease obligation 19 38,728,998 36,968,382 38,795,976 36,943,449
Other non-current liability 20 3,937,312 4,148,011 3,937,312 4,148,011
Accounts payable - non current 21 25,496,762 8,968,041 25,496,762 8,968,041
Non-current liabilities 77,571,895 60,649,391 77,638,873 60,624,458
Accounts payable and others 22 55,812,752 49,749,896 56,046,194 50,059,351
Current tax liabilities 23 9,674,723 9,558,625 9,662,812 9,547,371
Lease obligation 19 3,243,702 2,852,904 3,232,026 2,840,583
Interest bearing term loans 16 3,104,214 3,568,645 3,104,214 3,568,645
Short term loan 24 2,340,807 3,738,585 2,340,807 3,738,585
Unclaimed dividend 25 53,398 30,014 53,398 30,014
Current liabilities 74,229,596 69,498,669 74,439,451 69,784,549
Total liabilities 151,801,491 130,148,060 152,078,324 130,409,007
Total equity and liabilities 216,985,067 197,274,601 217,013,271 197,293,018
Net asset value (NAV) per share (In BDT) 36 12.44 12.82 12.40 12.77
The annexed notes 1 to 42 form an integral part of these financial statements.
Dr. Shridhir Sariputta Hansa Wijayasuriya Lila Azmin Abdullah Rajeev Sethi
Director Director Chief Executive Officer
M. Riyaaz Rasheed Mohammed Shahedul Alam

Chief Financial Officer Company Secretary
4
Robi Axiata Limited
Interim Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income
For the period ended 30 September 2023
In BDT'000
1 January to 1 January to 1 July to 1 July to 1 January to 1 January to 1 July to 1 July to
Note 30 September 2023 30 September 2022 30 September 2023 30 September 2022 30 September 2023 30 September 2022 30 September 2023 30 September 2022
Revenue 26 74,310,779 63,317,102 25,434,749 22,073,903 74,264,527 63,260,837 25,430,288 22,051,930

Cost of revenue 27 (46,495,542) (40,022,743) (14,731,570) (13,869,426) (46,519,713) (40,010,497) (14,755,343) (13,866,945)
Administrative expenses 28 (3,371,113) (2,398,444) (1,237,785) (886,516) (3,210,868) (2,278,827) (1,180,634) (841,835)
Selling and distribution expenses 29 (10,704,299) (9,957,203) (3,895,990) (3,447,559) (10,699,278) (9,955,037) (3,895,163) (3,445,777)
Operating expenses 30 (2,172,730) (1,845,545) (761,001) (534,327) (2,348,433) (2,148,007) (810,372) (631,476)
Profit from operations 11,567,095 9,093,167 4,808,403 3,336,075 11,486,235 8,868,469 4,788,776 3,265,897
Net finance expense 31 (4,673,836) (3,286,490) (1,606,419) (1,204,662) (4,675,617) (3,282,850) (1,608,041) (1,203,617)
Foreign exchange gain/(loss) (1,205,379) (3,118,469) (385,540) (1,294,780) (1,205,004) (3,116,750) (385,515) (1,294,800)
Non-operating income 32 204,471 120,587 88,011 38,002 272,298 185,038 97,680 62,709
Net profit before WPPF 5,892,351 2,808,795 2,904,455 874,635 5,877,912 2,653,907 2,892,900 830,189
Expense related to WPPF and welfare fund (282,776) (137,126) (138,605) (42,887) (279,901) (126,375) (137,757) (39,531)
Profit before tax 5,609,575 2,671,669 2,765,850 831,748 5,598,011 2,527,532 2,755,143 790,658
Income tax expense 33 (3,885,987) (2,103,090) (1,706,158) (539,930) (3,880,522) (2,096,991) (1,703,971) (537,346)
Net profit/(loss) for the period 1,723,588 568,579 1,059,692 291,818 1,717,489 430,541 1,051,172 253,312
Other comprehensive expense - - - - - - - -
Total comprehensive income 1,723,588 568,579 1,059,692 291,818 1,717,489 430,541 1,051,172 253,312
Earnings per share (In BDT) 34 0.33 0.11 0.20 0.06 0.33 0.08 0.20 0.05
Dr. Shridhir Sariputta Lila Azmin Abdullah Rajeev Sethi M. Riyaaz Rasheed Mohammed Shahedul Alam
Hansa Wijayasuriya Director Chief Executive Officer Chief Financial Officer Company Secretary
Director
5
Robi Axiata Limited
Interim Condensed Consolidated Statement of Changes in Equity
Consolidated
In BDT'000
Share Other Retained Total
capital reserves earnings equity
Balance as at 1 January 2023 52,379,329 6,662,397 8,084,815 67,126,541
Dividend - - (3,666,553) (3,666,553)
Total comprehensive income

Profit for the period - - 1,723,588 1,723,588
Other comprehensive expense - - - -
Balance as at 30 September 2023 52,379,329 6,662,397 6,141,850 65,183,576
In BDT'000
Dividend (1,047,587) (1,047,587)

Profit for the period - - 568,579 568,579
Company
In BDT'000
Dividend - - (3,666,553) (3,666,553)

Profit for the period - - 1,717,489 1,717,489
Dividend - - (1,047,587) (1,047,587)

Profit for the period - - 430,541 430,541
6
Robi Axiata Limited
Interim Condensed Consolidated Statement of Cash Flows
In BDT'000
1 January to 1 January to 1 January to 1 January to
Note 30 September 2023 30 September 2022 30 September 2023 30 September 2022
Cash flows from operating activities

Cash received from customers and others 90,045,559 76,454,972 90,109,928 76,336,122
Cash paid to suppliers, employees and others (29,575,173) (26,147,646) (29,651,642) (26,341,110)
Cash generated from operations 60,470,386 50,307,327 60,458,286 49,995,012
VAT and tax paid (31,796,166) (23,694,507) (31,705,832) (23,624,256)
Net cash from operating activities 28,674,219 26,612,820 28,752,454 26,370,756
Cash flows from investing activities

Payment for acquisition of PPE and intangibles (14,166,038) (21,820,063) (14,250,758) (21,469,724)
Proceeds from sale of property, plant and equipment 54,150 - 63,444 -
Interest and insurance claim received 142,319 54,506 141,473 54,412
Net cash from investing activities (13,969,569) (21,765,557) (14,045,842) (21,415,312)
Cash flows from financing activities

Dividend payment (1,504,082) (1,038,996) (1,504,082) (1,038,996)
Proceeds from loans and borrowings 7,502,000 14,500,000 7,502,000 14,500,000
Payment of lease obligation (5,580,208) (4,670,558) (5,569,530) (4,659,880)
Repayment of loans and borrowings (12,176,750) (15,420,701) (12,176,750) (15,420,701)
Net cash from financing activities (11,759,040) (6,630,255) (11,748,362) (6,619,577)
Net change in cash and cash equivalents 2,945,611 (1,782,993) 2,958,251 (1,664,134)
Cash and cash equivalents as at 1 January 3,563,406 4,918,491 3,321,967 4,758,723
Effect of exchange rate fluctuations on cash held 6,303 2,263 6,303 2,263
Cash and cash equivalents as at 30 September 6,515,319 3,137,761 6,286,520 3,096,852
Net operating cash flows per share (NOCFPS) (In BDT) 36 5.47 5.08 5.49 5.03
7
Robi Axiata Limited
Notes to the Interim Condensed Consolidated Financial Statements
As at and for the period ended 30 September 2023
1 Reporting entity
1.1 Company profile
Robi Axiata Limited formerly known as TM International (Bangladesh) Limited (hereinafter referred to as "Robi" or "the
Company"), is a public company limited by shares, was incorporated under Companies Act, 1994 on 22 October 1995
and currently has its registered office at Nafi Tower (19th Floor), 53 Gulshan South Avenue, Gulshan 1, Dhaka 1212.
The merger of Airtel Bangladesh Limited with Robi has been in effect from 16 November 2016. Robi became a publicly
listed company on December 24, 2020, by issuing 523,792,894 shares through an initial public offering (IPO) and listing
its shares on both the Dhaka and Chittagong Stock Exchanges.
The issued and paid up capital of the Company is BDT 52,379,328,950 as of 30 September 2023 of which 61.8%
shares held by Axiata Investments (Labuan) Ltd., 28.2% shares held by Bharti International (Singapore) Pte Ltd. and
rest of the shareholders' information is presented in Note 14.
The immediate parent of Robi is Axiata Investments (Labuan) Ltd. incorporated in Federal Territory of Labuan, Malaysia
and the ultimate parent is Axiata Group Berhad incorporated in Malaysia.
1.2 Subsidiaries of Robi Axiata Limited
1.2.1 Robi formed “RedDot Digital Limited” (hereinafter referred to as "RedDot"), a private limited company in December 2019.
RedDot is registered in the Bangabandhu Hi-Tech City, Kaliakoir, Gazipur. Bangladesh. The subsidiary focuses on Hi-
Tech/ Information Technology (IT)/ ITES (IT Enabled Services) sector, developing software technology for mobile, IOT
and FinTech services.
1.2.2 Robi formed “Smart Pay Limited” (hereinafter referred to as "Smart Pay") a private limited company in October 2022.
Smart Pay is registered in the 16th Floor, Uday Tower, 57 & 57/A South Gulshan Avenue, Gulshan 1, Dhaka,
Bangladesh. The subsidiary primarily focuses to manage & operate electronic payment and services, peer to peer
transfer services, utility and merchant bill payment. The Company is yet to start its commercial operation as on 30
September 2023.
1.2.3 Robi formed “AxEnTech PLC.” (hereinafter referred to as "AxEnTech") a public limited company in June 2023.
AxEnTech is registered in the Plot no 187 and 188/B, Bir Uttam Mir Showkat sorok, Gulshan Tejgaon Link Road,
Tejgaon, Dhaka, Bangladesh. The subsidiary primarily focuses to build, develop, own, manage and run data processing
centres, carry on business of IaaS, or Infrastructure as a Service, data storage, virtualization, cloud management,
colocation services, hosting applications, IT service management, IT, IOT, ICT solution, data center /cloud operation &
maintenance, data center solutions, facilities, hosting, analysing, server & storage, racks/cabinets, core switches of
mobile network operators and such rental and managed services, establishing and maintaining computing storage,
network security, networking, facilities, Business Process Outsourcing and Knowledge Process Outsourcing. The
Company is yet to start commercial operation as on 30 September 2023.
1.2.4 Robi formed “r ventures PLC.” (hereinafter referred to as "r ventures") a public limited company in July 2023. r ventures
is registered in the Plot no 187 and 188/B, Bir Uttam Mir Showkat sorok, Gulshan Tejgaon Link Road, Tejgaon, Dhaka.
The company focuses on investing in startups and digital ventures, emphasizing sectors like OTT services, IoT, health
apps, and e-commerce. It also encompasses IT and ITES activities, along with payment services, aiming to foster a
robust digital innovation ecosystem. The Company is yet to start commercial operation as on 30 September 2023.
Pursuant to amendment to the Companies Act 1994 incorporating certain amendments, among others, is to change of
the word ‘Limited’ by the word ‘PLC’ in case of Public Limited Companies including listed ones. Necessary formalities
are in progress in implementing these changes.
1.3 Nature of business
Robi is primarily involved in providing mobile telecommunication services (voice, data and other related services) and IT
related services in Bangladesh.
Robi as a licensed mobile telecommunication service provider in Bangladesh has been providing voice, data and digital
services. The Company also provides other services including international roaming services with various operators of
different countries across the world. The Company launched its commercial operations on 15 December 1997 and
currently has nationwide 2G, 3G and 4G network.
The Company obtained 2G cellular mobile phone services operator license from the Ministry of Posts and
Telecommunications (MOPT), Government of Bangladesh in 1996 which was subsequently renewed for a period of 15
years with effect from 11 December 2011. Robi merged with Airtel Bangladesh Limited on 16 November 2016 and
obtained additional spectrum, certain bands of which has been renewed on December 2020.
8
The Company obtained 3G Cellular Mobile Phone Services Operator License (3G License) and related spectrum from
Bangladesh Telecommunication Regulatory Commission (BTRC) on 12 September 2013 and 4G Cellular Mobile Phone
Services Operator License (4G License) on 19 February 2018. The 3G License and 4G License were issued for a period
of 15 years with effect from 12 September 2013 and 19 February 2018 respectively.
In April 2021 the Company acquired 7.6 MHz of spectrum license for a period of five and half years. In March 2022 the
Company acquired another 60 MHz of spectrum license for a period of 10.1 years with effect from 01 January 2023.
2 Basis of preparation
The interim condensed financial statements as at and for the financial period ended 30 September 2023 include
consolidated and separate financial statements. The consolidated financial statements comprise the company and its
subsidiaries. The separate financial statements present the financial position and performance of Robi.
The interim condensed financial statements have been prepared in accordance with International Accounting Standard
("IAS") 34 "Interim Financial Reporting", the Companies Act 1994, the Securities and Exchange Rules 1987, relevant
guidelines issued by the Bangladesh Securities and Exchange Commission ("BSEC"), Financial Reporting Act, 2015 and
other applicable laws in Bangladesh and should be read in conjunction with the audited financial statements of Robi as
at and for the year ended 31 December 2022 ("2022 Audited Financial Statements").
The interim condensed financial statements have been prepared on going concern basis. Unless otherwise specifically
mentioned, historical cost principle has been followed for the purpose of these financial statements. The amounts in
these financial statements have been rounded off to the nearest BDT in thousand (BDT'000) except otherwise indicated.
As a result of these rounding off, in some instances the totals may not match the sum of individual balances.
Non-controlling interest has not been presented in the consolidated financial statements as these financial statements
have been presented in BDT thousand where non-controlling interest is less than BDT 1,000.
Comparative information has been rearranged wherever considered necessary to conform to the current period’s
presentation.
2.1 Date of authorization
These Interim Condensed Consolidated Financial Statements were authorized for issue by the Board of Directors of the
Company on….......................
2.2 Functional and presentation currency
The financial statements are presented in Bangladeshi Taka (BDT), which is both functional and presentation currency
of Robi.
3 Significant accounting policies
The accounting policies and methods of computation applied in the interim condensed financial statements are
consistent with those used in the preparation of the 2022 Audited Financial Statements.
9
4 Property, plant and equipment (PPE), net
Consolidated
Telecom
Capital work-
Freehold Furniture Office and other IT IT Billing equipment Motor
Computer in-progress Total
land and fixture equipment infrastructure applications equipment and vehicle
(CWIP)
In BDT'000 infrastructure
Cost
As at 1 January 2023 293,885 759,466 3,214,927 533,139 4,583,920 7,446,770 1,173,376 179,265,017 267,113 13,122,740 210,660,355
Additions - 20 832,174 25,173 385,831 781,932 - 17,567,854 6,743 13,521,378 33,121,104
Disposals/adjustments/transfer - (485,026) (1,423,399) (298,703) (2,391,779) (2,731,328) (875,162) (22,558,598) (98,139) (19,595,661) (50,457,796)
As at 30 September 2023 293,885 274,461 2,623,702 259,609 2,577,972 5,497,373 298,214 174,274,273 175,718 7,048,457 193,323,663
Accumulated depreciation
As at 1 January 2023 - 647,452 2,567,903 403,997 3,846,663 5,079,614 1,151,544 87,924,931 185,593 - 101,807,697
Depreciation for the period - 37,322 140,539 41,066 340,812 698,499 6,551 10,911,303 26,248 - 12,202,340
Disposals/adjustments/transfer - (485,167) (1,423,399) (279,776) (2,391,779) (2,731,328) (875,103) (22,551,477) (98,139) - (30,836,168)
As at 30 September 2023 - 199,606 1,285,043 165,287 1,795,696 3,046,784 282,992 76,284,757 113,703 - 83,173,869
Carrying amounts
As at 30 September 2023 293,885 74,855 1,338,659 94,322 782,276 2,450,589 15,222 97,989,516 62,015 7,048,457 110,149,794
As at 31 December 2022 293,885 112,014 647,024 129,143 737,257 2,367,156 21,832 91,340,087 81,520 13,122,740 108,852,659
18,510 -
Company (19,250) -
(323) -
Telecom
Capital work-
Freehold Furniture Office and other IT IT Billing equipment Motor
Computer in-progress Total
land and fixture equipment infrastructure applications equipment and vehicle
In BDT'000 (CWIP)
infrastructure
Cost
As at 1 January 2023 293,885 756,521 3,069,872 522,157 4,576,993 7,546,416 1,173,376 179,260,566 267,113 12,525,588 209,992,488
Additions - 20 6,456 6,663 385,831 886,616 - 17,567,854 6,743 13,379,770 32,239,953
Disposals/adjustments/transfer - (485,026) (1,423,399) (298,295) (2,391,779) (2,731,328) (875,162) (22,558,598) (98,139) (18,856,117) (49,717,844)
As at 30 September 2023 293,885 271,515 1,652,929 230,525 2,571,045 5,701,703 298,214 174,269,822 175,718 7,049,240 192,514,597
As at 1 January 2023 - 646,191 2,555,884 395,743 3,839,736 5,101,847 1,151,544 87,922,650 185,593 - 101,799,188
Depreciation for the period - 36,992 91,801 33,293 340,812 718,017 6,551 10,911,303 26,248 - 12,165,018
Disposals/adjustments/transfer - (485,167) (1,423,399) (279,453) (2,391,779) (2,731,328) (875,103) (22,551,477) (98,139) - (30,835,846)
As at 30 September 2023 - 198,015 1,224,286 149,583 1,788,769 3,088,536 282,992 76,282,476 113,703 - 83,128,360
Carrying amounts
As at 30 September 2023 293,885 73,500 428,643 80,942 782,276 2,613,167 15,222 97,987,346 62,015 7,049,240 109,386,237
As at 31 December 2022 293,885 110,330 513,988 126,414 737,257 2,444,569 21,832 91,337,916 81,520 12,525,588 108,193,300
10
5 Intangible assets, net
Consolidated
Telecom
license and Customer
Software Brand Goodwill Total
spectrum list
In BDT'000 fees
Cost
As at 1 January 2023 1,458,421 73,606,174 1,700,380 567,061 402,000 77,734,037

Additions 48,243 20,576,497 - - - 20,624,740
Disposals/adjustments (1,006,380) - - - - (1,006,380)
As at 30 September 2023 500,284 94,182,671 1,700,380 567,061 402,000 97,352,398
Accumulated amortization
As at 1 January 2023 1,450,492 37,940,036 1,700,380 567,061 - 41,657,969

Amortization for the period 10,616 6,400,693 - - - 6,411,309
Disposals/adjustments (1,006,380) - - - - (1,006,380)
As at 30 September 2023 454,728 44,340,729 1,700,380 567,061 - 47,062,898
Carrying amounts
As at 30 September 2023 45,556 49,841,942 - - 402,000 50,289,500

As at 31 December 2022 7,929 35,666,138 - - 402,000 36,076,067
Company
Telecom
license and Customer
Software Brand Goodwill Total
In BDT'000 spectrum list
fees
Cost
As at 1 January 2023 1,458,421 73,606,174 1,700,380 567,061 402,000 77,734,037

Additions 48,243 20,576,497 - - - 20,624,740
Disposals/Adjustments (1,006,380) - - - - (1,006,380)
As at 30 September 2023 500,284 94,182,671 1,700,380 567,061 402,000 97,352,398
Accumulated amortization
As at 1 January 2023 1,450,492 37,940,036 1,700,380 567,061 - 41,657,969

Amortization for the period 10,616 6,400,693 - - - 6,411,309
Disposals/Adjustments (1,006,380) - - - - (1,006,380)
As at 30 September 2023 454,728 44,340,729 1,700,380 567,061 - 47,062,898
Carrying amounts
As at 30 September 2023 45,556 49,841,942 - - 402,000 50,289,500

As at 31 December 2022 7,929 35,666,138 - - 402,000 36,076,067
11
6 Right-of-use asset (ROU), net
Consolidated
Land & Transmission Telecom equipment

In BDT'000 Total
building fiber and infrastructure
Cost
As at 1 January 2023 816,207 132,441 42,438,837 43,387,485

Additions 1,783,781 - 4,407,921 6,191,702
Termination/disposal/modification (98,728) - (111,426) (210,154)
As at 30 September 2023 2,501,260 132,441 46,735,332 49,369,033
As at 1 January 2023 565,524 86,536 11,290,773 11,942,833
Depreciation for the period 135,249 10,567 2,739,965 2,885,781
Termination/disposal/modification - - (4,740) (4,740)
As at 30 September 2023 700,773 97,103 14,025,997 14,823,873
Carrying amounts
As at 30 September 2023 1,800,487 35,338 32,709,335 34,545,160

As at 31 December 2022 250,683 45,905 31,148,064 31,444,653
Company
Land & Transmission Telecom equipment

In BDT'000 Total
building fiber and infrastructure
Cost
As at 1 January 2023 767,996 132,441 42,438,837 43,339,274

Additions 1,783,781 - 5,229,984 7,013,765
Termination/disposal/modification (98,728) - (111,426) (210,154)
As at 30 September 2023 2,453,049 132,441 47,557,395 50,142,885
As at 1 January 2023 553,405 86,536 11,290,773 11,930,714
Depreciation for the period 126,472 10,567 2,803,903 2,940,942
Termination/disposal/modification - - (4,740) (4,740)
As at 30 September 2023 679,877 97,103 14,089,936 14,866,916
Carrying amounts
As at 30 September 2023 1,773,172 35,338 33,467,459 35,275,969

As at 31 December 2022 214,591 45,905 31,148,064 31,408,560
12
7 Deferred tax assets
Deferred tax assets have been recognized and measured in accordance with the provisions of IAS 12 "Income Taxes".
In BDT'000 30 September 2023 31 December 2022

Taxable temporary difference 66,901,458 71,456,203
Deductible temporary difference (69,338,738) (79,451,311)
Net taxable/(deductible) temporary difference (2,437,280) (7,995,108)
Deferred tax asset/(liability) of the Company @ rate of 40% tax rate 974,912 3,198,043
Deferred tax asset/(liability) of the subsidiary @ 27.5% tax rate 13,600 12,995
Total deferred tax asset/(liability) 988,511 3,211,038
8 Other non-current asset
This includes advance deposited for filing appeals against various litigations.
9 Inventories
In BDT'000 30 September 2023 31 December 2022 30 September 2023 31 December 2022
SIM cards and starter kits 378,683 437,642 378,683 437,642

Scratch cards 25,682 12,085 25,682 12,085
Device and others 45,242 91,408 30,544 78,647
449,607 541,135 434,909 528,374
Provision for obsolescence (60,371) (37,221) (60,275) (37,221)
389,236 503,914 374,634 491,153
10 Accounts and other receivables, net

In BDT'000 Note 30 September 2023 31 December 2022 30 September 2023 31 December 2022
Accounts receivable, net 10.1 6,000,709 4,431,761 5,961,491 4,397,470

Other receivables 2,962,363 2,951,650 3,125,857 3,146,372
8,963,072 7,383,411 9,087,348 7,543,842
Other receivables mainly consist of indemnification assets arising from business combination.
10.1 Accounts receivable, net

Interconnection receivables 1,766,407 1,776,823 1,766,407 1,776,823

Post-paid receivables 421,568 415,349 421,865 415,608
Infrastructure sharing receivables 314,795 322,638 314,795 322,638
International roaming receivables 35,340 30,339 35,340 30,339
Others 10.1.1 4,739,058 3,170,740 4,654,981 3,088,624
7,277,168 5,715,889 7,193,388 5,634,032
Provision for impairment (1,276,459) (1,284,128) (1,231,897) (1,236,562)

6,000,709 4,431,761 5,961,491 4,397,470
10.1.1 Other account receivables mainly include receivables from channel partners and receivables from digital business.
11 Advances, deposits and prepayments

Advances & Prepayments (604,003) 2,138,658 (715,842) 2,649,428

Deposits 192,063 116,510 187,327 115,720
(411,940) 2,255,168 (528,515) 2,765,148
12 Short term investments - FDRs
This represents term deposits with Bank Al-falah Limited and Eastern Bank Limited with maturity over 90 days. These are under lien against bank
guarantees for customs duty in respect of import of Subscriber Identification Module (SIM) card, scratch card and network equipment.
13 Cash and cash equivalents

Cash in hand 13.1 6,125 15,979 6,125 15,978

Cash at bank 13.2 6,509,194 3,547,427 6,280,395 3,305,988
6,515,319 3,563,406 6,286,520 3,321,966
13.1 Cash in hand includes cash available in mobile financial service (MFS) wallets.
13.2 Restricted cash
As at 30 September 2023, cash at bank includes restricted cash amounting to BDT 2,858,796,995 (31 December 2022: BDT 1,289,166,914).
13
14 Share capital
In BDT'000 30 September 2023 31 December 2022
Authorized:
6,000,000,000 ordinary shares of BDT 10 each 60,000,000 60,000,000
60,000,000 60,000,000
Issued, subscribed, called up and paid up:

As at 1 January 52,379,329 52,379,329
Issued during the period/year - -
52,379,329 52,379,329
14.1 Shareholding position

30 September 2023 31 December 2022
Value Value
No. of share % of holding No. of share % of holding
Name of shareholders BDT'000 BDT'000
Axiata Investments (Labuan) Ltd. 3,238,304,100 61.8% 32,383,041 3,238,304,100 61.8% 32,383,041
Axiata Group Berhad 900 0.0% 9 900 0.0% 9
Bharti International (Singapore) Pte Ltd. 1,475,834,961 28.2% 14,758,350 1,475,834,961 28.2% 14,758,350
General public and Institutions 387,741,960 7.4% 3,877,420 387,741,960 7.4% 3,877,420
Employees of the Company 136,050,934 2.6% 1,360,509 136,050,934 2.6% 1,360,509
Other shareholders 40 0.0% 0.4 40 0.0% 0.4
5,237,932,895 100% 52,379,329 5,237,932,895 100% 52,379,329
Other shareholders include Network I2I Limited, Bharti Airtel International (Mauritius) Limited, Bharti Airtel International (Mauritius) Investments Limited and Bharti Airtel Holding
(Mauritius) Limited having 10 shares each.
15 Other reserves
On 21 September 2016, High Court of Bangladesh has approved the Scheme of Amalgamation (the Scheme) to merge Robi Axiata Limited with Airtel Bangladesh Limited. The
Merger has been effected via issuance of 1,178,535,001 new ordinary shares at the face value BDT 10 each by Robi to Bharti International (Singapore) Pte Ltd. for shareholding of
up to 25% plus 1 share in the surviving entity Robi Axiata Limited. The merger was a cash free debt free transaction and there was no other consideration between the parties.
In accordance with IFRS 3 "Business Combinations", consideration given for any business combination has to be measured at fair value on the acquisition date. Based on the
Purchase Price Allocation (PPA) exercise, the total fair value of the shares issued to Bharti International (Singapore) Pte Ltd. was derived at BDT 18,447,746,789 resulting in the
recording of an amount of BDT 6,662,396,779 in excess of face value of shares. The excess amount has been recorded as "Other reserves".
14
16 Interest bearing term loans
International Finance Corporation 9,394,852 9,623,541 9,394,852 9,623,541

Dutch Bangla Bank Limited 2,400,000 4,000,000 2,400,000 4,000,000
11,794,852 13,623,541 11,794,852 13,623,541
Accrued interest on loan 204,714 30,645 204,714 30,645
Total outstanding interest bearing term loans 11,999,566 13,654,186 11,999,566 13,654,186
Interest bearing term loans - current portion 16.1 (3,104,214) (3,568,645) (3,104,214) (3,568,645)
Interest bearing term loans - non-current portion 8,895,352 10,085,541 8,895,352 10,085,541
16.1 Interest bearing term loans - current portion
International Finance Corporation 2,099,500 1,938,000 2,099,500 1,938,000

Dutch Bangla Bank Limited 800,000 1,600,000 800,000 1,600,000
2,899,500 3,538,000 2,899,500 3,538,000
Total current portion 3,104,214 3,568,645 3,104,214 3,568,645
17 Asset retirement obligation
Robi recognizes Asset Retirement Obligation (ARO) in respect of roof-top, green field base stations and office space for any constructive and/or legal
obligations for dismantling, removal or restoration incurred by the Company as a consequence of installing or constructing the sites. ARO is measured
at the present value of expected cash outflows required to settle such obligations. Periodic accretion of such liabilities due to the passage of time is
recorded as finance cost. The significant assumptions used in estimating the provision are: timing of assets removals, costs of restorations, expected
inflation rates and the discount rates. There can be no assurances that actual costs and the probability of incurring obligations will not differ from these
estimates.
18 Employee benefits
This represents Robi's net (asset)/liability position in relation to the funded gratuity scheme for the employees.
19 Lease obligation
As at 1 January 39,821,286 39,754,114 39,784,032 39,740,771
Additions during the period/year 4,988,002 2,773,209 5,067,901 2,739,216
Interest accrued during the period/year 2,998,798 3,759,039 3,000,778 3,755,223
Repayment during the period/year (5,580,208) (6,286,556) (5,569,530) (6,272,659)
Termination/disposal/modification during the period/year (255,178) (178,519) (255,178) (178,519)
41,972,700 39,821,286 42,028,003 39,784,032
Segregation of current & non-current portion

Lease obligation current portion 3,243,702 2,852,904 3,232,026 2,840,583
Lease obligation non-current portion 38,728,998 36,968,382 38,795,976 36,943,449
41,972,700 39,821,286 42,028,003 39,784,032
20 Other non-current liability
This represents provision for Robi's obligation to Bharti International (Singapore) Pte Ltd. for certain tax benefits.
21 Accounts payable - non current
This includes the amount payable to the Bangladesh Telecommunication Regulatory Commission (BTRC) for spectrum renewal in December 2020
and the acquisition of new spectrum in April 2021 and March 2022.
22 Accounts payable and others
In BDT'000 Note 30 September 2023 31 December 202230 September 2023 31 December 2022
Accounts payable including liability for capital expenditure 16,716,645 14,382,293 16,940,063 14,666,350
Accrued expenses including accrual for capital expenditure 17,413,363 14,843,968 17,428,359 14,899,289
Provisions 9,607,610 9,265,052 9,569,952 9,224,986
Contract liabilities 4,484,415 5,152,728 4,484,269 5,152,711
Dividend payables to sponsor shareholders 2,804,913 1,193,807 2,804,913 1,193,807
Other payables 22.1 4,785,806 4,912,048 4,818,638 4,922,208
55,812,752 49,749,896 56,046,194 50,059,351
22.1 Other payables include security deposit from suppliers, subscribers, distributors and indirect tax etc.
15
Other payables include security deposit from suppliers, subscribers, distributors and indirect tax etc.
23 Current tax liabilities
As at 1 January 9,558,625 9,342,585 9,547,371 9,338,494

Provision made during the period/year 1,663,460 1,751,880 1,657,391 1,731,148
11,222,085 11,094,465 11,204,762 11,069,642
Payment during the period/year (1,547,362) (1,535,840) (1,541,950) (1,522,271)
9,674,723 9,558,625 9,662,812 9,547,371
24 Short term loan
This represents local currency loans taken for a short tenure to fulfill Robi's working capital requirements from various banks. The duration of the loans
ranges from 30 days to 360 days and is renewable for a maximum period of 360 days. The interest rate for the outstanding short-term loans as of
September 30, 2023, varies between 4.35% and 6.90%.
Standard Chartered Bank - 1,500,000 - 1,500,000
Citibank, N.A. 1,500,000 1,400,000 1,500,000 1,400,000
Woori Bank 834,000 834,000 834,000 834,000
2,334,000 3,734,000 2,334,000 3,734,000
2,340,807 3,738,585 2,340,807 3,738,585
25 Unclaimed dividend
This includes undistributed dividends to general shareholders, including the bank interest earned on the same amount. This amount couldn't be
distributed due to erroneous bank information provided by the general shareholders.
16
26 Revenue
The following is an analysis of revenue for the quarter/period

In BDT'000 Note 30 September 2023 30 September 2022 30 September 2023 30 September 2022 30 September 2023 30 September 2022 30 September 2023 30 September 2022
Revenue from contract with customers 26.1 73,933,366 62,921,592 25,294,451 21,948,009 73,880,368 62,858,645 25,287,741 21,923,786
Lease revenue 377,413 395,510 140,298 125,894 384,159 402,192 142,547 128,144
74,310,779 63,317,102 25,434,749 22,073,903 74,264,527 63,260,837 25,430,288 22,051,930
26.1 Disaggregation of revenue from contract with customers

Mobile services 26.2 68,897,855 57,921,650 23,577,362 20,191,089 68,899,725 57,922,807 23,577,910 20,191,749
Interconnect services 3,975,791 3,555,898 1,333,958 1,252,013 3,975,791 3,555,898 1,333,958 1,252,013
Sale of device 45,732 193,961 6,216 36,403 45,467 166,825 12,980 30,054
Other revenues 26.3 1,013,988 1,250,083 376,915 468,504 959,385 1,213,115 362,893 449,970
73,933,366 62,921,592 25,294,451 21,948,009 73,880,368 62,858,645 25,287,741 21,923,786
26.2 Mobile services
This includes revenue from voice, non-voice traffic, data, subscription and connection fees.
26.3 Other revenues
This mainly includes revenue in the from of commission, IT professional services and digital services.
27 Cost of revenue
Cost of materials and services 27.1 2,289,620 1,797,675 353,553 629,553 2,274,933 1,776,019 351,994 623,914
Interconnection and roaming charges 3,720,865 3,196,769 1,212,521 987,591 3,720,865 3,196,769 1,212,521 987,591
Revenue sharing, spectrum and license fees 27.2 5,506,024 3,535,317 1,760,770 1,549,861 5,506,024 3,535,311 1,760,769 1,549,861
Network operation and maintenance expenses 13,719,488 12,899,605 4,425,550 4,407,415 13,723,627 12,898,131 4,428,983 4,406,938
Depreciation and amortization 27.3 21,259,545 18,593,377 6,979,176 6,295,006 21,294,264 18,604,267 7,001,076 6,298,641
46,495,542 40,022,743 14,731,570 13,869,426 46,519,713 40,010,497 14,755,343 13,866,945
27.1 Cost of materials and services
Cost of materials and services includes cost of SIM card, scratch card, devices and contents.
17
27.2 Revenue sharing, spectrum and license fees
As per licensing guidelines, Robi shares 5.5% of its revenue as ‘revenue sharing’ and 1.0% of its revenue as ‘contribution to social obligation fund’ with BTRC. In addition, licensing condition also requires Robi to pay annual license fee and annual
spectrum fee and charges.
27.3 Depreciation and amortization
In BDT'000 30 September 2023 30 September 2022 30 September 2023 30 September 2022 30 September 2023 30 September 2022 30 September 2023 30 September 2022
Depreciation of property, plant and equipment 12,097,704 11,318,597 3,862,774 3,841,846 12,068,485 11,329,487 3,850,422 3,845,481
Depreciation of right-of-use asset 2,750,532 2,445,719 961,381 825,917 2,814,470 2,445,719 995,634 825,917
Amortization of intangible asset 6,411,309 4,829,061 2,155,021 1,627,243 6,411,309 4,829,061 2,155,021 1,627,243
21,259,545 18,593,377 6,979,176 6,295,006 21,294,264 18,604,267 7,001,076 6,298,641
28 Administrative expenses
Salaries and personnel cost 3,086,245 2,165,053 1,143,766 831,461 2,940,418 2,050,876 1,092,212 789,243
Employee medical and life insurance 56,986 37,289 18,425 13,738 50,232 35,424 16,174 12,754
Office rentals and utilities 164,845 139,966 51,378 21,532 161,272 137,740 50,242 20,791
Office general expenses 38,520 44,200 16,615 17,807 37,257 43,147 15,680 17,069
Other administrative expenses 24,517 11,936 7,601 1,978 21,689 11,640 6,326 1,978
3,371,113 2,398,444 1,237,785 886,516 3,210,868 2,278,827 1,180,634 841,835
29 Selling and distribution expenses

Advertisement expense 1,479,329 1,655,234 546,909 580,718 1,476,860 1,653,169 547,185 579,037
Dealers commission 9,037,542 8,027,092 3,277,158 2,805,089 9,034,990 8,026,991 3,276,055 2,804,988
Subsidy on SIM 187,428 274,877 71,923 61,752 187,428 274,877 71,923 61,752
10,704,299 9,957,203 3,895,990 3,447,559 10,699,278 9,955,037 3,895,163 3,445,777
18
30 Operating expenses
Statutory audit fees 1,545 1,459 515 486 1,200 1,200 400 400
Vehicle running expense 166,773 280,150 52,435 94,452 164,204 269,076 52,434 90,767
Consultancy and professional services 500,097 250,401 178,547 70,061 483,658 246,695 173,998 68,948
Safety and security 131,778 146,938 41,448 48,354 131,778 146,938 41,448 48,354
Software and hardware maintenance 777,766 695,189 247,950 275,095 1,001,626 1,032,087 309,658 385,746
Training and travelling 71,614 33,785 27,644 7,193 70,473 33,609 27,360 7,058
Directors' fee 1,392 4,536 572 1,341 1,392 4,536 572 1,341
Customer care expenses 159,051 169,034 49,767 55,621 159,051 169,034 49,767 55,621
Entertainment expenses 835 298 182 298 835 298 182 298
Impairment/(Reversal) loss on account receivables (7,670) (65,331) 12,715 (129,103) (4,665) (65,331) 12,715 (129,103)
Depreciation of property, plant and equipment 104,636 84,017 43,634 26,947 96,533 81,803 42,632 26,258
Depreciation of Right-of-use assets 135,249 94,567 79,299 32,881 126,472 85,790 76,374 29,956
Maintenance cost - building & office equipment 10,159 16,142 4,215 7,814 10,159 16,142 4,215 7,814
Bank Charges 15,740 13,181 5,470 5,128 15,437 13,019 5,430 5,103
Other expenses 103,765 121,179 16,607 37,759 90,279 113,110 13,187 32,915
2,172,730 1,845,545 761,001 534,327 2,348,433 2,148,007 810,372 631,476
31 Net finance expense

Interest expense on lease 2,998,798 2,799,662 1,055,273 943,195 3,000,778 2,796,721 1,056,893 942,249
Interest expense on loan 834,404 503,800 265,678 260,466 834,404 503,786 265,679 260,466
Interest expense on asset retirement obligation 37,641 33,146 12,532 12,097 37,641 33,146 12,532 12,097
Interest expense/(income) on defined benefit obligation/plan asset (15,472) (1,828) (5,157) (1,135) (17,055) (2,863) (5,685) (1,480)
Finance expense on spectrum liability 921,512 - 310,090 - 921,512 - 310,090 -
Interest income on FDR and SND (103,047) (48,290) (31,997) (9,961) (101,663) (47,940) (31,468) (9,715)
4,673,836 3,286,490 1,606,419 1,204,662 4,675,617 3,282,850 1,608,041 1,203,617
32 Non-operating income
Gain/(loss) on disposal of property, plant & equipment 62,579 39 15,810 22 62,584 43 15,810 31
Gain on termination/modification of lease contract 49,764 29,302 47,165 2,641 49,764 29,302 47,165 2,641
Other miscellaneous income 92,128 91,246 25,036 35,339 159,950 155,693 34,705 60,037
204,471 120,587 88,011 38,002 272,298 185,038 97,680 62,709
19
33 Income tax expense
Current tax 1,663,460 1,283,174 595,285 448,614 1,657,391 1,276,989 593,186 446,035
Deferred tax expense 2,222,527 819,916 1,110,873 91,316 2,223,131 820,002 1,110,785 91,311
3,885,987 2,103,090 1,706,158 539,930 3,880,522 2,096,991 1,703,971 537,346
34 Earnings per share

Note 30 September 2023 30 September 2022 30 September 2023 30 September 2022 30 September 2023 30 September 2022 30 September 2023 30 September 2022
Earnings attributable to ordinary shareholders (net profit after 1,723,588 568,579 1,059,692 291,818 1,717,489 430,541 1,051,172 253,312
tax) (BDT'000)
Weighted average number of ordinary shares outstanding during 35 5,237,933 5,237,933 5,237,933 5,237,933 5,237,933 5,237,933 5,237,933 5,237,933
the period ('000)
Basic earnings per share (in BDT) 0.33 0.11 0.20 0.06 0.33 0.08 0.20 0.05
No diluted earnings per share is required to be calculated for the period/year as there was no convertible securities for dilution during the period.
35 Weighted average number of ordinary shares
The weighted average number of ordinary shares outstanding during the period/year is the number of ordinary shares outstanding at the beginning of the year, adjusted by the number of ordinary shares issued during the period/year multiplied by a time-
weighting factor. The time-weighting factor is the number of days that the shares are outstanding as a proportion of the total number of days in the period/year.
In '000 30 September 2023 30 September 2022 31 December 2022
Issued ordinary shares as at 1 January 5,237,933 5,237,933 5,237,933

Effect of share issued during the period/year - - -
Weighted average number of ordinary shares as at 5,237,933 5,237,933 5,237,933
20
36 Net asset value (NAV) per share
Total assets 216,985,067 197,274,601 217,013,271 197,293,018

Total liabilities 151,801,491 130,148,060 152,078,324 130,409,007
65,183,576 67,126,541 64,934,947 66,884,011
Weighted average number of ordinary shares 35 5,237,933 5,237,933 5,237,933 5,237,933
NAV per share (in BDT) 12.44 12.82 12.40 12.77
37 Net operating cash flows per share (NOCFPS)

Note 30 September 2023 30 September 2022 30 September 2023 30 September 2022
Net operating cashflow (in BDT'000) 28,674,219 26,612,820 28,752,454 26,370,756

Weighted average number of ordinary shares ('000) 35 5,237,933 5,237,933 5,237,933 5,237,933
Net operating cash flows per share (NOCFPS) (in BDT) 5.47 5.08 5.49 5.03
38 Reconciliation of net operating cashflow

In BDT'000 30 September 2023 30 September 2022 30 September 2023 30 September 2022
Net profit/(loss) for the period 1,723,588 568,579 1,717,489 430,541

Income tax expense 3,885,987 2,103,090 3,880,522 2,096,991
Profit before tax 5,609,575 2,671,669 5,598,011 2,527,532
Adjustment for:
Depreciation and amortization 21,499,430 18,771,961 21,517,270 18,771,860
Finance expense 4,776,883 3,255,172 4,777,280 3,252,567
Inventory obsolescence 60,371 12,056 60,275 12,056
Foreign exchange income/(loss) - unrealized part 852,999 2,855,444 852,648 2,853,726
Others (112,343) (29,341) (112,348) (29,345)
27,077,340 24,865,291 27,095,125 24,860,864
Changes in
Inventories 114,678 34,853 116,519 33,235
Accounts and other receivables, net (1,579,661) 470,698 (1,543,506) 320,932
Other non-current asset (1,406,500) - (1,406,500) -
Advances, deposits and prepayments (1,350,243) (100,347) (1,465,851) (175,350)
Asset retirement obligation (34,055) (22,710) (34,055) (22,710)
Employee benefits (159,382) 20,992 (158,979) 30,416
Accounts payable and others 1,949,829 (146,581) 2,093,640 (35,809)
(2,465,334) 256,905 (2,398,732) 150,715
Cash generated from operating activities 30,221,581 27,793,866 30,294,404 27,539,111

Income tax paid (1,547,362) (1,181,046) (1,541,950) (1,168,356)
Net cash generated by operating activities 28,674,219 26,612,820 28,752,454 26,370,756
21
39 Related party disclosures
i) Transactions with key management personnel

The following statements comprises the Directors of the Board and Key Management Personnel. Consolidated Company
Short term employee benefits 298,312 186,168 273,609 171,808

Post-employment benefits 16,925 16,043 13,735 13,775
Other long term benefits 47,644 47,579 47,644 47,579
362,880 249,790 334,987 233,161
The Company carried out a number of transactions with related parties in the normal course of business on arms length basis. The name of these related parties, nature of transactions and their total
value have been set in accordance with the provisions of IAS 24 "Related party disclosures".
ii) Transaction with related parties during the period

Name of related parties Nature Nature of transactions
Axiata Digital Lab Axiata Group Company Managed services, app development
87,900 72,014 87,900 72,014
services and platform cost
Axiata Group Berhad Shareholder Reimbursable expenses, management fee 109,195 158,262 109,195 158,262
Dividend 0.2 0.2 0.2 0.2
Axiata Investments (Labuan) Shareholder Dividend 1,926,791 1,926,791 647,661
647,661
Limited
Axiata Digital Services Axiata Group Company Revenue (1,692,678) (1,722,309) (1,692,678) (1,722,309)
Advertising and other expenses 502,250 796,083 502,250 796,083
Axiata Business Services Axiata Group Company Professional services 44,571 9,047 44,571 9,047
Axiata Global Services Ltd. Axiata Group Company SIGOS outbound roaming 2,030 - 2,030 -
Axiata Management Service Axiata Group Company Reimbursable expenses - 3,427 - 3,427
Trust Axiata Digital Limited Joint Venture of Axiata Digital Revenue 147 147 -
-
Services
Smart Axiata Co. Limited Axiata Group Company Roaming revenue 1 0.1 1 0.1
Revenue-others 3,477 - - -
Roaming expenses 0.1 0.1 0.1 0.1
22
Dialog Axiata PLC Axiata Group Company Roaming revenue (20) (48) (20) (48)
Roaming expenses 1 1 1 1
Other expenses 5,569 7,424 5,569 7,424
Celcom Axiata Berhad Axiata Group Company Roaming revenue (13) (7) (13) (7)
Roaming expenses (14) 6 (14) 6
PT XL Axiata Tbk Axiata Group Company Roaming revenue 0 - 0 -
edotco Bangladesh Co Ltd Axiata Group Company Telecom facility sharing 12,834,740 11,946,841 12,834,740 11,946,841
Shared service income (5,104) (5,003) (5,104) (5,003)
Revenue (20,411) (21,093) (20,411) (21,093)
Ncell Private Limited Axiata Group Company Roaming revenue (81) (43) (81) (43)
H One Axiata Group Company License expense (219) - - -
Bharti Airtel Shareholder Roaming revenue (17,615) (13,152) (17,615) (13,152)

Roaming expenses 2,499 2,683 2,499 2,683
Dividend 878,122 295,167 878,122 295,167
Network I2I Limited Shareholder Dividend 0.006 0.002 0.006 0.002
Bharti Airtel International Shareholder Dividend 0.006 0.002 0.006 0.002

(Mauritius) Investments Limited
Bharti Airtel Holding (Mauritius) Shareholder Dividend 0.006 0.002 0.006 0.002
Limited
Bharti Airtel International Shareholder Dividend 0.006 0.002 0.006 0.002

(Mauritius) Limited
Red Dot Digital Limited Subsidiary Shared service income - - (68,475) (64,875)
IT support maintenance and development - - 396,389 480,237
services
Facility sharing income 69,269 -
Other expense - - 6,668 1,761
Other revenue - - (11,504) (12,715)
Others/ Assets transfer - - - -
Smart Pay Limited Subsidiary Expense reimbursement - - 213 -
23
iii) Receivables/(payables) with related parties
Name of related parties Nature Receivable/(Payable)
Axiata Digital Labs Axiata Group Company Payable (105,460) (188,665) (105,460) (188,665)
Axiata Group Berhad Shareholder Payable (1,480,244) (1,269,803) (1,480,244) (1,269,803)

Payable - Dividend (0.9) (0.4) (0.9) (0.4)
Axiata Investments (Labuan) (1,942,856) (566,576) (1,942,856) (566,576)

Shareholder Payable - Dividend
Limited
Axiata Digital Services Axiata Group Company Receivable 764,629 945,664 764,629 945,664
Payable (365,725) (991,717) (365,725) (991,717)
Axiata Business Services Axiata Group Company Payable (58,263) (13,692) (58,263) (13,692)
Axiata Global Services Ltd. Axiata Group Company Payable (2,030) - (2,030) -
Axiata Management Service Axiata Group Company Receivable (63) 498 (63) 498
Trust Axiata Digital Limited Joint Venture of Axiata Digital

Receivable 44,561 47,566 - -
Services
Smart Axiata Co. Limited Axiata Group Company Receivable-roaming 0.1 0.1 0.1 0.1
Payable-roaming (1) (1) (1) (1)
Receivable-Others 3,477 - - -
Dialog Axiata PLC Axiata Group Company Receivable-roaming 266 246 266 246
Payable- other expense (44,459) (40,619) (44,459) (40,619)
Celcom Axiata Berhad Axiata Group Company Receivable-roaming 0.8 - 0.8 -

Payable-other expense (10,564) - (10,564) -
Payable-roaming (1) - (1) -
24
Receivables/(payables) with related parties
PT XL Axiata Tbk Axiata Group Company Receivable-roaming - 0.1 - 0.1

edotco Bangladesh Co Ltd Axiata Group Company Payable (3,683,467) (2,750,793) (3,683,467) (2,750,793)
Ncell Private Limited Axiata Group Company Receivable - Roaming 12 46 12 46
Payable - Roaming (8) (5) (8) (5)
Bharti Airtel Shareholder Receivable - Roaming 6,997 3,638 6,997 3,638
Payable - Roaming & Others (14,322) (8,613) (14,322) (8,613)
Payable - Dividend (1,505,352) (627,230) (1,505,352) (627,230)
Network I2I Limited Shareholder Payable - Dividend (0.010) (0.004) (0.010) (0.004)
Bharti Airtel International

Shareholder Payable - Dividend (0.010) (0.004) (0.010) (0.004)
(Mauritius) Investments Limited
Bharti Airtel Holding (Mauritius)

Limited
Bharti Airtel International

(Mauritius) Limited
RedDot Digital Limited Subsidiary Receivable - - 176,804 203,105

Advance - - 672,894 682,790
Payable - - (401,298) (485,636)
Smart Pay Limited Subsidiary Receivable - - 726 513
H One Axiata Group Company Payable (262) - - -
25
40 Capital commitments
Purchase orders - capital expenditures 3,621,226 25,403,125 3,533,032 25,121,115
41 Contingencies and material litigations
Except as disclosed below there has been no development of the events disclosed in the financial statements for the year ended 31
December 2022.
Litigations related to Income tax
Income tax reference case related to Robi
Reference applications were filed before the Honorable High Court against the orders of the Taxes Appellate Tribunal for the income
year 2005 to 2016. In addition, tax cases are under process in different appeal stages for the income year 2017, 2018 and 2019.
The total claims from National Board of Revenue (NBR) stand at BDT18,727,999,392 against which tax expense booked in the
respective financial statements is BDT 17,694,700,653.The main reason for such a difference is the disallowance of SIM tax subsidy
by NBR as non-deductible expenses for the respective years
VAT Payment dispute related to 2G License Fee payment
Upon being available of the written judgement issued by the Hon’ble Appellate Division (AD) dated 01 June 2023, related provisions
has been reviewed and updated in Robi’s book. On the other hand, the related legal proceedings is in progress.
Claim related to VAT and SD on SIM and Scratch Card
Large Taxpayers Unit (“LTU”) of National Board of Revenue (“NBR”) issued a letter of claim on 08 June 2023 demanding TK.
857,585,227 (the “Disputed Amount”) against Robi, alleging an arrear of payment from Warid Telecom (“Warrid”), predecessor of
Airtel Bangladesh Ltd.
As a way of background, VAT officials visited the Warid’s office on 14 June 2007 and seized the VAT registers and other related
documents. VAT Officials demanded BDT 434 million as SIM tax and VAT for SIM cards and scratch cards not found in Warrid’s
custody. Warid paid the full demanded amount. However, VAT officials reverted after few months and demanded the Disputed
Amount claiming that Warid failed to VAT and SIM Tax for additional number of SIM cards and scratch cards of total BDT 1,292
million and after adjustment of paid amount of BDT 434m balance disputed amount BDT 857m. Warid refuted the claim as they
were paying VAT and SIM Tax as part of their normal sales process.
Consequently, a committee was formed, which submitted 02 different reports with different results indicating that there was a
difference of opinion between the members of the committees themselves. Thereafter, a further order No. 18/Mushak/09 dated 11
June 2009 was passed by the LTU, directing the petitioner to pay the Disputed Amount fully.
Being aggrieved, Writ Petition No. 7018 of 2009 was filed in the High Court Division (“HCD”) by Warid challenging the order No.
18/Mushak/09 dated 11 June 2009. The HCD, on 31 May 2016 had rejected the claim of LTU (“Rejected Claim”). The Court further
directed VAT authorities to reassess the VAT and Supplementary Duty payable and adjust any excess amount paid.
To date, LTU failed to reassess. However, LTU issued multiple requesting Robi to submit certain documents. Robi has submitted
relevant documents in its custody, however, emphasized that documents demanded by LTU has been seized by the VAT authority
itself.
Instead of reassessing or providing the documents to Robi, LTU stated that if Robi fail to provide requested documents, LTU shall
consider Rejected Claim stand as their current demand. On 8th of June LTU issued a demand, ignoring the HCD’s verdicts of 31
May 2016.
Robi issued a letter demanding justice on 6th of July 2023 requested LTU to form a committee to assess any claim based on the
documents that LTU seized. Robi also demanded that those documents to be provided for Robi to assist any claim that LTU may
have.Robi has already filed the Writ Petition in High court Division of supreme Court of Bangladesh. Now the case is pending for
court date.
42 Events after the reporting period
There is no significant event which provide additional information of the condition existed at the reporting period which requires either
disclosure or adjustment to the financial statements.
26

Unaudited Q3 23 Financial Statement

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Unaudited Q3 23 Financial Statement

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Robi Axiata Limited

Interim Condensed Consolidated Financial Statements

The annexed notes 1 to 42 form an integral part of these financial statements.

M. Riyaaz Rasheed Mohammed Shahedul Alam

Revenue 26 74,310,779 63,317,102 25,434,749 22,073,903 74,264,527 63,260,837 25,430,288 22,051,930

The annexed notes 1 to 42 form an integral part of these financial statements.

Dividend - - (3,666,553) (3,666,553)

Total comprehensive income

Dividend (1,047,587) (1,047,587)

Total comprehensive income

Dividend - - (3,666,553) (3,666,553)

Total comprehensive income

Balance as at 1 January 2022 52,379,329 6,662,397 7,045,931 66,087,657

Dividend - - (1,047,587) (1,047,587)

Total comprehensive income

The annexed notes 1 to 42 form an integral part of these financial statements.

Cash flows from operating activities

Cash flows from investing activities

Cash flows from financing activities

The annexed notes 1 to 42 form an integral part of these financial statements.

1.1 Company profile

1.2 Subsidiaries of Robi Axiata Limited

1.3 Nature of business

2.1 Date of authorization

2.2 Functional and presentation currency

3 Significant accounting policies

As at 1 January 2023 1,458,421 73,606,174 1,700,380 567,061 402,000 77,734,037

As at 1 January 2023 1,450,492 37,940,036 1,700,380 567,061 - 41,657,969

As at 30 September 2023 45,556 49,841,942 - - 402,000 50,289,500

As at 1 January 2023 1,458,421 73,606,174 1,700,380 567,061 402,000 77,734,037

As at 1 January 2023 1,450,492 37,940,036 1,700,380 567,061 - 41,657,969

As at 30 September 2023 45,556 49,841,942 - - 402,000 50,289,500

Land & Transmission Telecom equipment

As at 1 January 2023 816,207 132,441 42,438,837 43,387,485

As at 30 September 2023 1,800,487 35,338 32,709,335 34,545,160

Land & Transmission Telecom equipment

As at 1 January 2023 767,996 132,441 42,438,837 43,339,274

As at 30 September 2023 1,773,172 35,338 33,467,459 35,275,969

In BDT'000 30 September 2023 31 December 2022

8 Other non-current asset

SIM cards and starter kits 378,683 437,642 378,683 437,642

10 Accounts and other receivables, net

Accounts receivable, net 10.1 6,000,709 4,431,761 5,961,491 4,397,470

10.1 Accounts receivable, net

Interconnection receivables 1,766,407 1,776,823 1,766,407 1,776,823

Provision for impairment (1,276,459) (1,284,128) (1,231,897) (1,236,562)

11 Advances, deposits and prepayments

Advances & Prepayments (604,003) 2,138,658 (715,842) 2,649,428

12 Short term investments - FDRs

13 Cash and cash equivalents

Cash in hand 13.1 6,125 15,979 6,125 15,978

13.2 Restricted cash

In BDT'000 30 September 2023 31 December 2022

Issued, subscribed, called up and paid up:

14.1 Shareholding position

International Finance Corporation 9,394,852 9,623,541 9,394,852 9,623,541

16.1 Interest bearing term loans - current portion

International Finance Corporation 2,099,500 1,938,000 2,099,500 1,938,000

17 Asset retirement obligation

Segregation of current & non-current portion

20 Other non-current liability

21 Accounts payable - non current

22 Accounts payable and others

23 Current tax liabilities