JAKARTA. PT MNC Vision Networks Tbk (IPTV) ended the first half of 2022 with a net profit of IDR 118.56 billion. It was 27% lower than the number posted in the same period last year.
IPTV’s net profit in H1 2022 was a result of the revenue decline of 43.4% year-on-year (yoy) to IDR 1.46 trillion. At the end of the first half of 2021, the company used to be able to collect revenue of IDR 2.05 trillion.
Based on the recently published financial statement, most of IPTV’s revenue in H1 2022 was brought in by the satellite service provider segment, which contributed IDR 905.23 billion or covered 62.2% of the total revenue. It was then followed by the contribution of the digital, IPTV, and broadband service segment that amounted to IDR 468.29 billion, approximately 32.1% of the total revenue. Then, the remaining IDR 87.44 billion came from other business lines.
IPTV’s revenue in H1 2022 from three segments mentioned above took a hit quite significantly compared to the achievements in the same period last year. Specifically, satellite services’ revenue was down 28.7% yoy, the digital business segment’s revenue shifted 34% yoy downwards, and other business lines’ revenue shrank 24% yoy.
Until June 30, 2022, IPTV posted total assets of IDR 11.44 trillion, comprising current assets of IDR 2.5 trillion and non-current assets of IDR 8.94 trillion. It also recorded total equity of IDR 8.07 trillion. (KR/ZH)