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LISTED COMPANY - JAKARTA. PT Telkom Indonesia Tbk (TLKM) reported a decline in net profit for the first quarter of 2024. This was due to an increase in several expense items and unrealized losses on investments during the January-March 2024 period.
TLKM posted a net profit attributable to the parent entity of IDR 6.05 trillion as of March 2024. This realization 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 3.71% annually to IDR 37.42 trillion. As a comparison, TLKM earned revenue of IDR 36.09 trillion in the first quarter of 2023.
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The details of the 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.
Data, internet, and information technology services revenue 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 were eroded by unrealized losses from changes in the fair value of investments amounting to IDR 403 billion. This reversed from a profit of Rp 430 billion.
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Several TLKM expense items also increased. Such as operating expenses, maintenance, and telecommunications services which increased by 4.92% YoY, and interconnection expenses which swelled by 22.75% YoY.
As a result, Telkom's operating profit also fell 5.78% annually to Rp 11 trillion during the January–March 2024 period. In the same period in 2023, TLKM's operating profit reached IDR 11.43 trillion.
