Double-Digit Growth, Telkom (TLKM) Secures a Net Profit of IDR 24.56 Trillion in 2023

ISSUER NEWS - JAKARTA. Despite thin revenue growth, PT Telkom Indonesia Tbk (TLKM) was still able to record double-digit net profit growth throughout 2023.

TLKM recorded a net profit for the year attributable to the parent entity of IDR 24.56 trillion in 2023 or jumped 18.34% annually from IDR 20.75 trillion.

This achievement was mainly supported by revenue growth. From the top line side, this red-plate issuer pocketed revenue of IDR 149.21 trillion which managed to grow 1.30% YoY from IDR 147.30 trillion.

Telephone revenue contributed IDR 9.09 trillion, which fell 33.08% annually. Revenue from the interconnection segment reached IDR 9.07 trillion throughout 2023.

Then the total revenue from data, internet and information technology services grew 5.10% YoY to IDR 90.82 trillion. Network revenue contributed IDR 2.48 trillion to TLKM's total revenue.

Next, revenue from IndiHome contributed IDR 28.78 trillion or grew 2.73% annually. Then, the total revenue from other services reached IDR 6.18 trillion.

The total revenue from contracts with Telkom customers contributed the most, namely IDR 146.43 trillion or grew 1.19% YoY. Lastly, lessor transaction revenue contributed IDR 2.78 trillion.

On the other hand, the total assets of this telecommunications issuer decreased by 9.20% to IDR 29 trillion as of December 31, 2023. Whereas as of December 31, 2022, TLKM's total assets were at IDR 31.94 trillion.

Telkom's liabilities increased 3.61% annually from IDR 125.93 trillion to IDR 130.48 trillion as of December 31, 2023. TLKM's total equity also rose 4.89% YoY to IDR 156.56 trillion.