Indosat Achieves Impressive Revenue Growth and Net Profit in Q2 2023

Indosat Ooredoo Hutchison, a leading telecommunications company in Indonesia, has reported remarkable financial results for the second quarter of 2023, demonstrating a consistent upward trend in both revenue and net profit. The company’s revenue surged by 10 percent, reaching IDR 24.7 trillion, driven by strong growth across all its business lines.
Management team of Indosat Ooredoo HutchisonThe cellular division of Indosat witnessed a noteworthy growth of 8.4 percent in revenue, while the Multimedia, Data Communication, and Internet (MIDI) segment experienced an impressive increase of 15.7 percent. Additionally, the Fixed Telecom division recorded substantial growth, with revenue rising by 25.9 percent.

During the second quarter of 2023, Indosat achieved a net profit of IDR 1.9 trillion, marking the tenth consecutive quarter of profitability and maintaining a commendable track record of net profit growth over the past five quarters.

The company’s robust performance also translated into a substantial increase in EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), which surged by 24 percent to IDR 11.4 trillion. The EBITDA margin reached an impressive 46.1 percent in the first half of 2023.

Vikram Sinha, the CEO of Indosat Ooredoo Hutchison, credited the positive financial results to the successful integration of the Multi Operator Core Network (MOCN) technology, which has started to yield tangible outcomes. Sinha emphasized the significance of combining the MOCN integration with a well-crafted Go-to-Market strategy, enabling the company to deliver an enhanced experience to all its customers.

Indosat also achieved significant growth in its customer base, adding 3.8 million high-quality customers, totaling 100 million. The Average Revenue Per User (ARPU) reached IDR 35,800 during the second quarter, reflecting the company’s ability to maintain strong customer engagement and loyalty.

Data traffic on Indosat’s network witnessed an impressive increase of 16.8 percent, amounting to over 7,000 Petabytes. This surge in data usage highlights the growing demand for digital services and the company’s ability to meet the evolving needs of its customers.

As part of its efforts to enhance network capabilities, Indosat expanded its infrastructure by adding more than 215,000 BTS (Base Transceiver Stations) in the first half of 2023, a growth of 8.5 percent. Notably, 167,000 of these BTS installations are dedicated to 4G services, reflecting Indosat’s commitment to delivering faster and more reliable connectivity.

With these impressive financial results and a strong foundation for growth, Indosat Ooredoo Hutchison appears well-positioned to continue its positive trajectory in the Indonesian telecommunications market.