JAKARTA. PT Sarana Menara Nusantara Tbk (TOWR), an issuer that owns a telecommunications tower operator, posted revenue of IDR 5.77 trillion in the first half (1H) of 2023. TOWR's revenue in 1H 2023 recorded an increase of 8.66% year-on-year (yoy) or from the same semester last year, which reached IDR 5.31 trillion. 

The company's revenue growth in 1H 2023 was supported by the performance of all main business lines, namely telecommunications tower leasing and other services. 

In 1H 2023, TOWR's telecommunications tower rental revenue contributed IDR 4.16 trillion. Meanwhile, revenue from other services was recorded at IDR 1.52 trillion. 

With positive revenue growth performance, TOWR managed to record a net profit of IDR 1.55 trillion in 1H 2023. Net profit in this period decreased by 8.28% yoy, due to an increase in the cost of revenue to the company's tax expense. 

As of June 30, 2023, TOWR had total assets of IDR 66.38 trillion, with cash and banks of IDR 485.82 billion. Meanwhile, the company's total equity was recorded at IDR 15.15 trillion. (KR/LM)