Bakrie Telecom Tbk (BTEL), a telecommunication company under Bakrie Group, booked net profit of IDR 7.1 billion in the first half (H1) of 2024.
It is in contrast with BTEL’s poor performance in the same period last year, in which the company saw a loss of IDR 12.98 billion.
According to the recently released financial report, BTEL’s net profit in H1 2024 was supported by its operating revenue, which reportedly reached IDR 68.55 billion. It increased 226% year-on-year (yoy) from the same period last year, in which it only managed to collect IDR 21.02 billion.
Based on the report, BTEL’s operating revenue in H1 2024 was primarily generated by media infrastructure business line, with total revenue of IDR 57.52 billion.
Then, telecommunication service only brought in IDR 2.84 billion, followed by digital advertising revenue of IDR 5.9 billion and information and technology (IT) services’ revenue of IDR 2.3 billion.
BTEL reported total assets of IDR 59.6 billion as of June 2024, yet the equity was still at deficiency, booked at minus IDR 5.93 billion. (KR/ZH)