The Tower Company Owned By Conglomerates Edwin Soeryadjaya And Sandiaga Uno Raised Revenue Of IDR 1.64 Trillion And Profit Of IDR 415.27 Billion In The First Quarter Of 2022

Illustration. (Photo: Unsplash)

JAKARTA - The tower company from the Saratoga Group owned by conglomerates Edwin Soeryadjaya and Sandiaga Uno, PT Tower Bersama Infrastructure Tbk (TBIG) posted revenue of Rp. 1.64 trillion during the first quarter of 2022. This achievement rose 15.5 percent compared to the realization in the same period last year which amounted to Rp1.42 trillion.

In TBIG's financial report, quoted on Wednesday, May 25, it was stated that the company recorded a cost of revenue of Rp.405.71 billion in the first three months of this year. This number increased by 20.73 percent compared to the first quarter of 2021 which was Rp.336.02 billion.

As a result, TBIG posted a gross profit of IDR 1.23 trillion in the first quarter of 2022. This achievement grew compared to the first quarter of 2021 which amounted to IDR 1.08 trillion.

Meanwhile, TBIG's profit before income tax was IDR 482.6 billion in the first quarter of 2022 or more than the first quarter of 2021, which was IDR 390.78 billion.

Meanwhile, net profit attributable to owners of the parent entity was Rp415.27 billion. Meanwhile, in the first quarter of 2021, the amount was IDR 265.9 billion, so it jumped 56.17 percent in the first quarter of 2022.

Previously, the TBIG Annual General Meeting of Shareholders (AGMS) had approved the distribution of cash dividends for the 2021 financial year of IDR 36 per share or equivalent to a total of IDR 815.7 billion or around 52.7 percent of the company's net profit for the 2021 financial year.

Thus, the use of the company's net profit for the 2021 financial year is IDR 500 million allocated for general reserves, IDR 815.7 billion as cash dividends for the 2021 financial year, and the remaining value is allocated for retained earnings.