TOWR Reports Rp2.5 Trillion Net Profit Until Q3 2022

Technology & Telecommunications

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Adi Ahdiat 01/12/2022 12:10 WIB

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TOWR recorded a net profit of Rp2.5 trillion from the beginning of the year to the end of Q3 2022.

TOWR Revenue and Net Profit, January-September (2021-2022)

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TOWR Reports Rp2.5 Trillion Net Profit Until Q3 2022

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TOWR Revenue and Net Profit, January-September (2021-2022)

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PT Sarana Menara Nusantara Tbk (TOWR) reported revenue of Rp8.1 trillion (approximately US$540 million) during the January-September 2022 period, a 33.6% increase compared to the same period the previous year.

However, TOWR's net profit reached Rp2.55 trillion, a slight decrease of 0.8% year-on-year.

"The decrease in net profit is due to higher depreciation and interest expenses. Nevertheless, net profit during the third quarter reached Rp868 billion, a 3.6% increase from the previous quarter," stated TOWR management in a press release on Wednesday, November 30, 2022.

By mid-2022, TOWR owned approximately 29,260 telecommunication towers spread across Indonesia.

The highest concentration of telecommunication towers is located in the Java, Bali, Nusa Tenggara Timur, and Nusa Tenggara Barat regions, with a total of 17,740 units. Sumatra has 6,760 units, Kalimantan 2,440 units, Sulawesi 1,960 units, and Maluku and Papua 354 units.

Indra Gunawan, Director of PT Sarana Menara Nusantara Tbk (TOWR), stated that telecommunication towers play a crucial role in supporting the digital economy. However, the availability of this infrastructure is still uneven.

"If we talk about the Nusantara, from Sabang to Merauke, we see that there are still many areas that require telecommunications infrastructure," said Indra at the Green Economic Forum 2022, as reported by *CNBC Indonesia* on Thursday, June 30, 2022.

"The biggest portion of internet access in Indonesia is supported by wireless technology, and that requires towers. So we are confident that the tower industry will remain very strong in the future," he continued.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."