Smartfren 1H20 losses widen to IDR1.22tn

29 Jul 2020

In a filing to the Indonesia Stock Exchange (IDX), domestic mobile operator PT Smart Telecom (Smartfren) reported that its net losses widened to IDR1.22 trillion (USD83.8 million) in the first half of this year, compared to a loss of IDR1.07 trillion in January-June 2019. Smartfren, whose three main shareholders are Sinar Mas Group subsidiaries Global Nusa Data, Wahana Inti Nusantara and Bali Media Telekomunikasi, said 1H20 revenues increased from IDR3.03 trillion to IDR4.30 trillion, but operating expenses also expanded from IDR4.31 trillion to IDR5.17 trillion. Broken down by segment, data service generated revenue of IDR3.91 trillion, augmented by non-data (IDR226.50 billion), interconnection (IDR61.60 billion) and other (IDR101.90 billion). On a more positive note, the struggling cellco said that it had trimmed its operating losses from IDR1.28 trillion in 1H19 to IDR870.55 billion in the six-month period under review.

Indonesia, PT Smart Telecom (Smartfren)