JAKARTA - PT Smartfren Telecom Tbk (FREN) recorded a loss of IDR 599.63 billion in 2023, even though its revenue increased by 4.13%. In 2022, the company recorded a profit of IDR 1.64 trillion.

In its 2023 Financial Report quoted on Tuesday (19/3), the company posted revenue of IDR 8.62 trillion, up from IDR 8.28 trillion in 2022. The largest source of revenue was from data telecommunications services products of IDR 7.55 trillion, up from IDR 7.42 trillion, non-data IDR 216.87 billion, up from IDR 211.51 billion, interconnection services IDR 323.10 billion, up from IDR 215.85 billion, and others IDR 530.16 billion, up from IDR 435.32 billion.

FREN's operating profit was recorded at IDR 319.18 billion, down 26.88% from IDR 436.54 billion in 2022. The decline in operating profit was due to an increase in operating expenses to IDR 8.31 trillion from IDR 7.85 trillion. In 2022, this issuer posted a profit of IDR 1.62 trillion. (LK/LM)