JAKARTA - PT Telkom Indonesia (Persero) Tbk (TLKM)'s net profit decreased by 5.7% in the first quarter of 2024 from the same period in 2023. The revenue was recorded to have increased to IDR 37.42 trillion from IDR 36.09 trillion.

Heri Supriadi, Finance Director of TLKM, said that the company recorded a net profit of IDR 6.05 trillionin the first quarter of 2023, lower than the same period in 2022 of IDR 6.42 trillion. "However, if we
exclude the non-realized loss from GOTO, then from the period until 1Q 2024, we recorded a net income of IDR 6.335 trillion, representing a growth of 3.1%," he said after the Annual General Meeting of Shareholders (AGMS) in Jakarta.

As of March 31, 2024, unrealized losses from changes in the fair value of Telkomsel's investment in GoTO amounted to IDR 403 billion. The fair value of GoTo's investment using the market value of GoTo shares is IDR 69 per share.

According to him, investment in GoTo is expected to provide value added to the company from year to year. "We currently have no plans to divest our investments in GOTO. Instead, we will continue to
develop them to maximize the value of the synergy, which we hope will cover an investment already made in GOTO", he said. (LK/W)