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ISSUER NEWS - JAKARTA. PT Telkom Indonesia Tbk (TLKM) net profit has been corrected during the first quarter of 2024. This is due to an increase in several expense items and unrealized losses on investments.
TLKM recorded a profit for the period attributable to the parent entity of IDR 6.05 trillion as of March 2024. This profit decreased by 5.78% annually or Year on Year (YoY) from IDR 6.52 trillion in the first quarter of 2023.
However, Telkom's revenue still grew by 3.71% annually to IDR 37.42 trillion. For comparison, TLKM earned revenue of IDR 36.09 trillion in the first quarter of 2023.
The details are that revenue from telephone reached IDR 1.74 trillion, interconnection contributed IDR 2.57 trillion, and revenue from lessor transactions reached IDR 795 billion during the first quarter of 2024.
Read Also: Double-Digit Growth, Telkom (TLKM) Secures a Net Profit of IDR 24.56 Trillion in 2023
Revenue from data, internet, and information technology services reached IDR 22.90 trillion. Then the revenue from the network, IndiHome, and others each reached IDR 685 billion, IDR 6.83 trillion, and IDR 1.85 trillion.
However, these achievements had to be eroded by unrealized losses from changes in the fair value of investments amounting to IDR 403 billion. This is a reversal from a profit of IDR 430 billion.
Several of TLKM's expense items were also observed to increase. Such as operating, maintenance, and telecommunications service expenses which increased by 4.92% YoY and interconnection expenses which swelled by 22.75% YoY.
As a result, Telkom's operating profit also fell by 5.78% annually to IDR 11 trillion during the period January–March 2024. In the same period in 2023, TLKM's operating profit reached IDR 11.43 trillion.
