JAKARTA - PT Tower Bersama Infrastructure Tbk (TBIG) profit fell 12.21%, although revenue rose 3.41% in 2024 from 2023.

Citing the 2024 Financial Report on Monday (7/4), Herman Setya Budi, President Director of TBIG said that the company posted revenue of IDR6.86 trillion, up from IDR6.40 trillion. The Telecommunication Tower segment contributed 91.83% to total revenue and the rest from Optical Fibre and Investment Property.

The Telecommunication Tower segment contributed IDR6.30 trillion, which came from customers including PT Telekomunikasi Selular, PT Indosat Tbk (ISAT), PT XL Axiata Tbk (EXCL), PT Smart Telecom, PT Smartfren Telecom Tbk (FREN), and others. The Optical Fibre and Investment Property segments contributed revenue of IDR557.04 billion and IDR3.50 billion respectively.

TBIG recorded gross profit of IDR4.92 trillion, up 3.96% from IDR4.73 trillion, gross profit margin of 71.73%, sloping from the previous gross profit margin of 71.35%, and operating profit of IDR4.31 trillion, growing 2% from IDR4.23 trillion.

On the other hand, profit before final tax and income tax fell 10.67% to IDR2.11 trillion from IDR2.37 trillion, due to an increase in bank and bond debt financial expenses and other expenses. Profit before income tax was corrected by 18.8% to IDR1.47 trillion from Rp1.80 trillion and profit for the year was eroded to IDR1.42 trillion from Rp1.62 trillion. (LK/LM)