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LISTED COMPANY - JAKARTA. PT Indointernet Tbk (EDGE) has reported a financial performance for the first quarter of 2024, with a net income of IDR 250.97 billion, marking an annual increase of 11.32%.
According to the company's financial report, EDGE's net income rose by 11.32% year-on-year to IDR 250.97 billion, up from IDR 225.44 billion in the same period the previous year.
The income was derived from various sources: data centers contributed IDR 96.71 billion, cloud services IDR 93.48 billion, connectivity IDR 55.52 billion, managed services IDR 3.41 billion, and other revenues IDR 1.83 billion.
The increase in net income led to a 7.13% year-on-year rise in EDGE's cost of revenue, from IDR 128.78 billion in the first quarter of 2023 to IDR 137.97 billion in the first quarter of 2024.
Simultaneously, EDGE managed to record a gross profit increase of 16.89% year-on-year. The figure grew to IDR 112.99 billion in the first quarter of this year, up from IDR 96.66 billion in the first quarter of 2023.
On the other hand, EDGE recorded a sales expense increase of 136.48% year-on-year to IDR 875 million.
Similarly, general and administrative expenses swelled to IDR 24.83 billion, a 25.03% year-on-year increase from IDR 19.86 billion.
By the end of March 2024, EDGE successfully recorded a net profit increase of 18.48% year-on-year to IDR 68.02 billion. At the end of March 2023, EDGE's net profit was recorded at IDR 57.41 billion.
