JAKARTA - PT Telkom Indonesia (Persero) Tbk (TLKM) bags profit of IDR 7.82 trillion in the first quarter (Q1) of 2024, slowing down 7.43% year-on-year (yoy) from IDR 8.44 trillion seen in 2023. This decline does not align with revenue’s growth due to increased expenses.

Based on the Q1 2024 Financial Report quoted Thursday (18/4), TLKM booked revenue of IDR 37.42 trillion at the end of March 2024, up 3.71% yoy from IDR 36.09 trillion in Q1 2023.

The most extensive contribution came from mobile of IDR 21.09 trillion, followed by consumer segment of IDR 6.86 trillion, wholesale and international business (WIB) of IDR 4.73 trillion, enterprise of IDR 4.46 trillion, and others of IDR 278 billion.

Last year, the contribution made by mobile segment was IDR 20.63 trillion, while consumer brought in IDR 6.65 trillion, enterprise IDR 4.49 trillion, WIB IDR 4.05 trillion, and others IDR 252 billion.

TLKM scored operating profit of IDR 11 trillion, also slipping from IDR 11.43 trillion, while profit before taxes was down to IDR 10.14 trillion from IDR 10.59 trillion.

This decline resulted from increased cost and expenses, including in operational expenses, maintenance and telecommunication services, depreciation and amortisation, as well as employee expenses. (LK/ZH)