JAKARTA – The revenue of PT Sarana Menara Nusantara Tbk (TOWR) was seen increasing 8.65% in the first half of 2023. However, the current profit and the profit margin dropped, resulted from increased cost of revenue, as well as general and administrative expenses.

Based on the H1 2023 Financial Report of TOWR quoted Tuesday (1/8), TOWR scored revenue of IDR 5.77 trillion, shifting from the revenue in the first half of 2022 of IDR 5.32 trillion. the third-party users contributed IDR 5.70 trillion, consisting of leasing income of IDR 5.22 trillion and other services of IDR 445.93 billion. Meanwhile, related-party users brought in IDR 74.85 billion.

The gross profit was recorded at IDR 4.14 trillion, increasing from IDR 3.87 trillion, while the gross profit margin arrived at 71.81%, shrinking from the gross profit margin in H1 2022 of 72.91%. The operating profit was IDR 3.47 trillion, growing from IDR 3.22 trillion.

This company managed to bag current profit of IDR 1.59 trillion, declining from IDR 1.70 trillion in H1 2022. The net profit margin was 27.66%, lower than the net profit margin in H1 2022 of 32.07%. (LK/ZH)