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LISTED COMPANY - JAKARTA. PT Jasnita Telekomindo Tbk, a technology issuer (JAST), has reported a single-digit increase in revenue for the first quarter of 2024 compared to the same period last year.
According to the financial report released on Monday (6/5), JAST's revenue in the first quarter of 2024 increased by 9.55% year on year (YoY) to Rp 36.28 billion, compared to Rp 33.11 billion in the first quarter of 2023.
The revenue consisted of interconnection and internet service revenue amounting to Rp 30.94 billion. There was also revenue from telecommunications projects worth Rp 2.44 billion, non-connection services Rp 2.88 billion, and other services Rp 10.41 million.
Despite the increase in revenue, JAST's cost of revenue slightly decreased by 0.82% YoY to Rp 23.99 billion, compared to previously Rp 24.19 billion in the same position last year.
At the same time, JAST's gross profit increased by 37.69% YoY to Rp 12.28 billion. In the same period last year, JAST's gross profit was recorded at Rp 8.92 billion.
By the end of the first quarter of 2024, JAST recorded a 13.95% YoY increase in operating expenses. The figure rose to Rp 11.22 billion compared to previously Rp 9.84 billion.
In detail, the operating expenses consisted of marketing expenses amounting to Rp 2.88 billion and general and administrative expenses worth Rp 8.33 billion.
JAST recorded a net profit of Rp 531.13 million. Unfortunately, this figure shrank by 88.75% YoY compared to Rp 4.72 billion in the same period last year.
