MTEL – Net profit of IDR521 bn in 1Q24

MTEL – Net profit of IDR521 bn in 1Q24 Dayamitra Telekomunikasi (MTEL) posted revenue of IDR2.20 tn (+7.3% yoy) and net profit of IDR521 bn in 1Q24. The revenue consisted of the tower business segment worth IDR1.83 tn (+5.4% yoy) and the fiber business segment worth IDR85.22 bn (+148.8% yoy). This performance growth is supported by the expansion carried out with the construction of Fiber To The Tower (FTTT) since 2022. As of March 2024, MTEL has 36,257 km (+11.5% ytd) of fiber optics. MTEL also maintained the company's position as the largest tower owner in Southeast Asia, with 38,135 towers (+0.3% ytd) until March 2024. In line with this, MTEL posted an increase in the number of tenants by 57,409 and collocations by 19,673 as of March 2024 so that MTEL has a tenancy ratio of 1.52x. (Source : Emiten News)