JAKARTA – PT Metrodata Electronics Tbk (MTDL), a company engaged in the information and communication technology (ICT) sector, reported revenue of IDR 5.1 trillion at the end of the first quarter (Q1) of 2024.

The company’s revenue increased 12.3% year-on-year (yoy) from IDR 4.5 trillion seen in the same quarter last year, supported by distribution business unit that grew 20% yoy.

“The growth in Distribution Business Unit revenue was mainly due to the significant increase in smartphone sales, growth in PC & notebook sales, indicating a recovery trend for the Consumer Distribution segment,” added the management through the press release today (30/4).

However, the solution and consulting business unit’s revenue only sported a short climb of 3.5% yoy due to business players that remained cautious during unstable climate following the election earlier this year.

“We are grateful that MTDL’s revenue increased by double digits in the first quarter of 2024, in the midst of a situation where many parties choose to take a position of wait and see following the political uncertainty regarding the results of the presidential election,” said President Director of MTDL, Susanto Djaja.

According to the Financial Report of Q1 2024, several expenses and costs, such as cost of revenue, finance expenses, as well as loss on foreign currency exchange, slowed down MTDL’s net profit performance.

In the end, MTDL only scored net profit growth of 1.7% yoy in Q1 2024, from IDR 199 billion to IDR 202.5 billion. Meanwhile, its net profit attributable to the parent entity only rose 0.7% yoy to IDR 147.4 billion.

The management of MTDL is seemingly optimistic regarding the revenue target set to IDR 25 trillion this year. “Seeing revenue performance which can still grow convincingly in the first quarter situation, the Company is optimistic about achieving a more stable growth in the second semester of this year,” the management concluded. (ZH)