Mitratel Pockets IDR 502 Billion Net Profit in the First Quarter of 2023

Armfalcon.com, JAKARTA — PT Dayamitra Telekomunikasi Tbk (MTEL) or Mitratel posted a net profit of IDR 501 billion in the first quarter of 2023. This figure grew by 9.1 percent from IDR 459 billion in the same period in 2022.

The company’s net profit was supported by revenue which rose 9.9 percent to Rp 2.06 trillion from Rp 1.87 trillion last year. Revenue from leasing of telecommunication towers is still the main growth driver in the first quarter of 2023.

Main Director of Mitratel, Theodorus Ardi Hartoko, said that the largest revenue contribution came from the Tower Leasing segment revenue which recorded revenue of IDR 1.73 trillion or grew by 18.8 percent compared to the first quarter of 2022.

“This revenue growth was driven by additional tenants and collocations, including the acquisition of the Indosat tower in the first quarter of this year,” said Teddy, Theodorus’ nickname, in Jakarta on Wednesday (3/5/2023).

Apart from the Tower leasing segment, Mitratel’s revenue was also supported from the Reseller segment of Rp 154 ​​billion, Fiber of Rp 34 billion, and Tower-Related Business of Rp 128 billion. Mitratel’s fundamental performance in the first quarter of this year continues to grow in line with the intensification of the asset monetization program from organic and inorganic corporate actions which will be completed in 2022.

In 2022, Mitratel will acquire telecommunication towers and fiber optic cables. The positive impact of the tower acquisition is the growth in Tower Leasing revenue and obtaining new revenue from fiber optics.

Mitratel in the first quarter of this year pocketed revenue of Rp 34 billion from the Fiber segment. In the first quarter of last year, this segment has not recorded any revenue. Mitratel managed to record rapid development in its fiber portfolio until March 2023.

The key to the growth of this new portfolio is driven by strategic partnerships that accelerate go to market, obtain orders from cellular operators as well as inorganic corporate actions by acquiring 6,012 km of fiber assets. Until the end of March 2023, Mitratel has a total fiber optic cable asset of 25,509 km.

Mitratel is also working on the Power To The Tower business. Teddy said the Power to The Tower business model is the provision of energy sources on grid (connected to the main energy source) and off grid (networks not connected to PLN electricity) at telecommunication tower sites.