JAKARTA – PT Tower Bersama Infrastructure Tbk (TBIG), a telco issuer under the Djarum Group, recorded an 18.2% year-on-year increase in net profit to IDR 413.4 billion in the first quarter of 2025.

According to its latest financial report, TBIG’s revenue remained relatively flat, edging up only 1.6% to IDR 1.7 trillion.

The telecommunications tower segment continued to dominate revenue, accounting for 91.24%, with the largest contribution from PT Telekomunikasi Selular (Telkomsel) at IDR 576.3 billion, followed by PT Indosat Tbk (ISAT) or Indosat with IDR 437.8 billion, and a combined IDR 552.8 billion from PT XL Axiata and PT Smartfren Telecom.

Gross profit also remained flat, rising just 1.5% to IDR 1.3 trillion, keeping the gross profit margin stable at 72.7%.

However, the company booked significant growth in other income and financial income during the period, allowing net profit to post double-digit growth. As a result, the net profit margin rose from 20.5% to 23.8% in the first quarter of 2025.

On Wednesday (28/5), TBIG’s shares closed flat at IDR 2,200. Year-to-date, the stock has inched up 4.76%. (ZH)