Telkom Sets Record, Pockets Rp24.76 Trillion in Net Profit in 2021

PT Telkom Indonesia (Persero) Tbk. (TLKM) set a new record in the last five years. The state-owned company achieved a net profit of Rp24.76 trillion in 2021, a 19.01% increase compared to 2020.

Based on financial reports from the Indonesia Stock Exchange (BEI), Telkom earned revenue of Rp143.21 trillion throughout last year. This revenue realization grew by 4.94% from the 2020 period, which was Rp136.46 trillion.

Mobile data and Indihome revenue were the main contributors driving the company's revenue growth last year. Mobile data revenue was recorded at Rp64.50 trillion, an increase of 8.39% from the previous year's Rp59.50 trillion. Meanwhile, Indihome revenue contributed Rp26.32 trillion, up 18.50% from the previous Rp22.21 trillion.

Furthermore, the company's telephone revenue in 2021 reached Rp16.46 trillion, revenue in the network segment reached Rp1.88 trillion, and revenue from other services contributed Rp6.11 trillion.

Telkom also recorded an increase in operating expenses, maintenance, and telecommunication services of 10.23%, reaching Rp38.13 trillion in 2021. Employee expenses increased by 7.88% to Rp15.52 trillion in 2021.

Interconnection expenses decreased by 4.07% to Rp5.18 trillion in 2021. In addition, general and administrative expenses decreased by 23% to Rp5.01 trillion in 2021. Thus, operating profit increased by 9.32% to Rp47.56 trillion in 2021. In 2020, the company's operating profit was Rp43.50 trillion.

The trend shows that Telkom's net profit has generally increased over the past five years. However, the company's net profit did experience a decline in 2018.

Telkom had achieved a net profit of Rp22.14 trillion in 2017. Then, the company's net profit fell to Rp18.03 trillion the following year. However, after that, the state-owned company's net profit continued to increase year-on-year until the end of last year.