Smartfren Telecom Tbk (FREN) booked another loss of IDR 473.8 billion in the first half of 2024, following its loss in H1 2023 of IDR 108.93 billion.
In terms of top-line, FREN’s operating revenue actually saw a slight climb of 0.2% year-on-year (yoy) to IDR 5.57 trillion. In the same semester last year, the company’s revenue was at IDR 5.56 trillion.
However, FREN’s operating expenses in H1 2024 swelled 1.97% yoy to IDR 5.52 trillion, from the initial IDR 5.42 trillion reported in the same period last year
Furthermore, interest and finance expenses of FREN in H1 2024 also increased 2.6% yoy to IDR 601.22 billion. On top of all these, gains from forex also dropped 91% yoy to IDR 35.71 billion.
As of June 2024, FREN’s total assets were recorded at IDR 45.25 trillion, while its total equity was at IDR 22.27 trillion. (KR/ZH)