Mitratel's (MTEL) Revenue from Fiber Optic Business Soars

April 23, 2024, 02.05 AM  | Reporter: Dina Mirayanti Hutauruk
Mitratel's (MTEL) Revenue from Fiber Optic Business Soars

ILUSTRASI. Mitratel successfully recorded revenue from the fiber business amounting to IDR 85.22 billion in the first quarter of 2024.

CORPORATE STRATEGIC - JAKARTA. PT Dayamitra Telekomunikasi Tbk (Mitratel) has successfully generated a revenue of Rp 85.22 billion from its fiber business in the first three months of 2024, marking a 148.8% year-on-year (YoY) surge.

The company, listed under the stock code MTEL, is confident that the fiber optic business line will offer promising prospects, given its current revenue growth.

Theodorus Ardi Hartoko (Teddy), CEO of Mitratel, believes that the fiber optic business has the potential to become the company's new growth engine. Mitratel has positioned itself as the preferred partner for cellular operators in the construction of Fiber To The Tower (FTTT).

Read Also: Rumored to be Acquired by Djarum Group, Surya Semesta Internusa (SSIA) Shares Soar

"We will continue to develop the optical fiber business to meet the low-latency network needs of cellular operators in line with the development of 5G technology. We also have a strong commitment to be their strategic partner, both in carrying out consolidation agendas and expanding to new sources of economic growth," Teddy stated on Monday (22/4).

With the growth of tower and fiber optic assets, Mitratel recorded an increase in the number of tenants from 57,409 at the end of December 2023 to 57,808 at the end of March 2024, adding 399 tenants in one quarter. Meanwhile, colocation increased by 1.4% from 19,395 to 19,673 over the same period, raising the tenancy ratio to 1.52x.

Read Also: Hutama Karya-HKI Consortium Wins Trans Papua Road Auction

In total, Mitratel booked revenue of Rp2.20 trillion in the first three months of 2024, growing 7.3% YoY. The tower rental business contributed Rp1.83 trillion, up 5.4%.

The revenue growth was balanced with more efficient cost management. As a result, the company was able to book an EBITDA of Rp1.84 trillion, soaring 9.9%. The EBITDA Margin also increased by 2.3% to 83.5%. Consequently, MTEL netted a net profit of Rp 521 billion, growing 4% YoY.

Next: Stock Recommendations: EXCL's Performance Predicted to Grow Positively in 2024

Editor: Syamsul Azhar

Latest News