JAKARTA. PT Indosat Tbk (ISAT), a wireless telecommunication service company with the highest market cap in Indonesia, scored net profit of IDR 1.29 trillion in Q1 2024, growing 39.3% year-on-year (yoy) from the same quarter last year.

This growth is in line with ISAT’s revenue performance that soared by up to 15.8% yoy to IDR 13.84 trillion in Q1 2024. In the same quarter last year, the company only booked revenue of IDR 11.95 trillion.

The main contributor of ISAT’s revenue in Q1 2024 was cellular telecommunication business line, which generated IDR 11.66 trillion, or covering 84% of total revenue. Then, multimedia, data communication, and internet business line brought in IDR 1.97 trillion, followed by fixed line segment that pitched in IDR 207.19 billion.

As of March 31, 2024, ISAT reported total assets of IDR 115.61 trillion. Meanwhile, its total equity clocked up to IDR 35.04 trillion.

On today’s (17/5) session at Indonesia Stock Exchange (IDX), ISAT was opened 150 points or 1.38% lower to IDR 10,700 per share until 9.39 AM WIB. However, since the beginning of this year, its stock has actually increased 3,100 points or 40.79%. (KR/ZH)