Telkom's Net Profit Soars to Rp19 Trillion by Q3 2023

From January to September 2023, PT Telkom Indonesia Tbk (TLKM) recorded a net profit attributable to the parent entity of Rp19.49 trillion.

This figure grew by 17.59% year-on-year (yoy) compared to the January-September period of the previous year, which recorded a profit of Rp16.58 trillion.

Telkom's positive performance was supported by its revenue, which reached Rp111.23 trillion by the end of Q3 2023.

This revenue increased by 2.17% compared to the same period last year, which achieved Rp108.87 trillion.

Based on its segments, the company's revenue (TLKM code) largely came from the data, internet, and information technology services segment, contributing Rp65.87 trillion.

Revenue from IndiHome reached Rp21.78 trillion, from telephone lines Rp8.3 trillion, interconnection revenue Rp6.62 trillion, network Rp1.78 trillion, and revenue from other services Rp4.76 trillion.

Meanwhile, in terms of costs and expenses, Telkom recorded a decrease in several items. Depreciation and amortization expenses decreased by 3.74% (yoy) to Rp24.01 trillion.

Marketing expenses decreased by 6.8% (yoy) to Rp2.58 trillion, and unrealized losses from changes in the fair value of investments decreased significantly by 94.09% (yoy) to Rp182 billion.

Thus, Telkom's earnings before interest, taxes, depreciation, and amortization (EBITDA) were Rp59.1 trillion, with an EBITDA margin of 53.1%, growing from 52.2% in the first half of the year.

Telkom's President Director, Ririek Ardiansyah, stated that Telkom's transformation steps are beginning to show positive progress. This is evident in the synergy and cost efficiency aspects of the Fixed Mobile Convergence (FMC) initiative.

"Other key strategies of the 'five bold moves' are also on track, such as InfraCo, Data Center, and B2B Digital IT Service," said Ririek in his official statement on Wednesday (1/11/2023).

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