JAKARTA. PT Bakrie Telecom Tbk (BTEL), a telecommunications issuer belonging to the Bakrie Group, posted a loss of IDR 54.49 billion in the first nine months (9M) of 2024.

This loss was 26% lower year-on-year (yoy) or compared to the same period last year, where BTEL's loss reached IDR 73.66 billion.

According to the financial report just released, the decline in BTEL's losses in 9M 2024 was supported by operating revenue performance which reached IDR 98.51 billion. The company's operating income in this period rose 129% yoy or from IDR 42.98 billion in 9M 2023.

Nevertheless, BTEL's cost of revenue also increased 76.9% yoy to IDR 98.52 billion. Apart from that, the company's financial expenses also did not change significantly, so the company's loss before income tax expense was recorded at IDR 61.07 billion.

Based on the business line, media infrastructure services revenue was still the main contributor to BTEL's revenue in 9M 2024, with revenue of IDR 83.69 billion. Revenue from the telecommunications services business was recorded at IDR 4.11 billion, revenue from digital advertising services IDR 7.34 billion, and information technology services revenue IDR 3.38 billion. (KR/LM)