Indosat Ooredoo returned to profit in Q1 on the back of double-digit growth in mobile and enterprise revenue, as well as strong gains in subscribers and ARPU.
President director Ahmad Al-Neama hailed a strong start to the year, particularly in the face of Covid-19 (coronavirus) challenges.
“Our growth momentum has continued to build, reflected in consecutive double-digit revenue growth”.
He said its strategy of offering simple and relevant products, and network upgrades “translated into an accelerating gain in cellular market share and a strong rebound in our enterprise business”.
Net profit of IDR172 billion ($11.9 million) overturned an IDR605.6 billion loss in Q1 2020, attributed to a combination of top-line growth and cost discipline.
Revenue increased 12.6 per cent to IDR7.3 trillion, with mobile rising 12.5 per cent to IDR6 trillion and enterprise up 17.1 per cent to IDR1.3 trillion. Data traffic increased 46 per cent.
It ended March with 60 million mobile subscribers, up 7 per cent, and ARPU grew 11 per cent to IDR32,700.
The company said it expects to increase capex this year, with a focus on developing mobile coverage in high-growth areas, and improving quality and coverage of its existing network.Subscribe to our daily newsletter Back