Indosat Ooredoo Hutchison (IOH) reported profits surging in its Q1 results supported by revenue growth across its units, and cutting down costs.
Vikram Sinha (pictured), IOH President Director and CEO, said: “The first quarter of 2024’s remarkable performance reflects our dedication to creating sustainable value for all Indosat’s stakeholders and to empowering Indonesia’s digital economy. We keep improving to enhance our network to ensure seamless connectivity and a marvellous experience for customers across Indonesia.
“At the same time, we have doubled down on operational excellence and efficiency, which has enabled us to deliver strong revenue growth, while further improving profitability.”
Total subscriber based increased by a slight 2.3% to 100.8 million at the end of the quarter. Data traffic grew 14.3% YoY to 3,858 Petabytes, 4G base station footprint was up 20.8% YoY to around 184,000, and ARPU grew 13.9% to IDR37,500.
In the quarter, IOH saw net profit increased 39.4% YoY to IDR1.29 billion (US$82 million), while EBITDA was up 22.1% IDR6.5 billion (US$411 million).
Total revenues was recorded at IDR13.8 billion (US$873 million) a growth rate of 15.8%.
