JAKARTA - PT XL Axiata Tbk (EXCL) collected current year’s net profit of IDR 1.28 trillion in 2023, up approximately 1.45% year-on-year (yoy) from IDR 1.21 trillion in 2022. This shift aligned with 10.19% growth in its revenue.

Based on 2023 Financial Report quoted today (1/3), EXCL reported revenue of IDR 32.32 trillion, growing from IDR 29.14 trillion seen in 2022. GSM mobile and telecommunication network services contributed IDR 31.82 trillion to total revenue, increasing from IDR 28.93 trillion. The revenue from managed service and information technology service segment also increased from IDR 211.73 billion to IDR 501.01 billion.

The weak jump in its profit was due to swollen expenses, especially in depreciation and infrastructure costs, as well as selling and marketing expenses and other expenses. Total expenses were recorded at IDR 27.58 trillion, up 9.76% yoy from IDR 25.12 trillion. This increase managed to lead profit before taxes to grow 5.94% yoy from IDR 1.35 trillion to IDR 1.70 trillion. (LK/ZH)