Mitratel Earns IDR 512 Billion Net Profit In The First Quarter Of 2024

Photo: Doc. Antara

JAKARTA - PT Dayamitra Telekomunikasi Tbk or Mitratel (MTEL) posted a net profit of IDR 512 billion in the first quarter of 2024, growing 4 percent from the same period of 2023 which was valued at IDR 501.03 billion. Theodorus said the company recorded revenues of IDR 2.20 trillion during the first three months of 2024, growing 7.3 percent compared to the same period the previous year of IDR 2.05 trillion (year on year). Tower rental business accounts for IDR 1.83 trillion, an increase of 5.4 percent. Meanwhile, revenues from the fiber business reached IDR 85.22 billion, an increase of 148.8 percent over the same period in time period. Growth on the income was offset by more efficiently. Thus, the company was able to probe EBITDA worth IDR 1.84 trillion, an increase of 9.9 percent. EBITDA Margin also increased 2.3 percent to 83.5 percent. The company began working on its optical fiber business in 2022 and has since continued to increase both organically and inorganically. Until the end of March 2024, the company's optical fiber length had reached 36.257 kilometers. If calculated from the end of December 2023 alone or year to date (ytd), Mitratel managed to increase its optical fiber length by up to 3.736 kilometers, growing 11.5 percent. The optical fiber business will continue to be developed to meet the needs of cellular operators will be low-lattency networks in line with the development of 5G technology," he said. In addition to focusing on developing optical fiber, Mitratel also maintains its position as the owner of the largest tower in Indonesia, even Southeast Asia. The company has 38,135 towers as late as of March 2024, an increase of 0.3 percent from the position at the end of December 2023. A total of 41,5 percent of towers are located in Java, while the remaining 58, 5 percent are scattered in Sumaeratra, Bali and Nusa Tenggara, Kalitan, Sulawesi

According to Theodorus, Telkom operator expansion outside Java and regional areas will continue, in line with the government's agenda in equitable infrastructure and improving the quality of internet networks in the country.

"For us, this is an opportunity as well as a call to play a bigger role in advancing the industry and helping people gain access to high-quality internet," he said. In line with the growth of tower assets and fiber optics, 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, or an increase of 399 tenants in one quarter. Kolocation increased 1.4 percent from 19,395 to 19,673 in the same period. This made the tenancy ratio increase to 1.52 times.