Smartfren, Telecommunication Company From Sinar Mas Group Owned By Conglomerate Eka Tjipta Widjaja Raised Profit Of IDR 54.6 Billion From Previous Loss Of IDR 451.9 Billion

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JAKARTA - The telecommunication company from the Sinar Mas Group, PT Smartfren Telecom Tbk (FREN) posted operating revenues of IDR 5.45 trillion in the first semester of 2022. This achievement increased by 10 percent from the first semester of 2021 which was valued at IDR 4.95 trillion.

In FREN's financial report, quoted Monday, August 15, the company recorded a total operating expense of Rp5.15 trillion in the first half of this year. This figure increased slightly from the same period last year which amounted to Rp. 5.03 trillion.

Meanwhile, during the first semester of 2022, the company managed to make an operating profit of IDR 302.18 billion. This is inversely proportional to the record operating loss in the first semester of 2021 of Rp 82.74 billion.

Furthermore, in the first half of this year, FREN posted a net profit of Rp70.97 billion from associates, Rp3 billion in interest income, loss from changes in the fair value of conversion options of Rp11.37 billion, net foreign exchange loss of Rp57.31 billion, interest expense and other financial Rp513.75 billion, and others net Rp23.51 billion.

Meanwhile, the net profit for the current period attributable to owners of the parent entity in the first semester of 2022 is Rp54.6 billion. In the same period last year, FREN posted a net loss of Rp451.9 billion.