Indonesia-headquartered Dayamitra Telekomunikasi (Mitratel) recorded a record high profit in the first nine months of 2023, with growth in towers and tenants boosting its top-line and operational efficiency.

President director Theodorus Ardi Hartokos stated recent acquisitions made Mitratel the largest tower company in Southeast Asia.

“Our challenge going forward is how to increase asset productivity, which is reflected in the increase in the tenancy ratio and operational efficiency”.

He added Mitratel expects operators to continue to divest tower and fibre assets to focus on product innovation, providing added value and better fulfilling consumer needs. “This change is certainly an opportunity for Mitratel to become a strategic partner and grow with them.”

Net profit grew 16.6 per cent year-on-year to IDR1.4 trillion ($92.8 million), with revenue climbing 11.9 increased to IDR6.3 trillion.

The company added 1,192 towers through acquisitions and built 481 new sites, taking the total to 37,091 at end-September. The number of tenants grew 10.5 per cent to 55,704 and collocations 21.3 per cent to 18,613.