Indosat Ooredoo Hutchison Reports USD 2.4 Billion Revenue Amid Rural Network Expansion

Indonesian telecommunications service provider Indosat Ooredoo Hutchison has reported a strong financial performance for the nine months ending on September 30, 2023. The company said it generated USD 2.4 billion in revenue, marking an 8.5 percent year-on-year increase, driven by the Cellular, MIDI, and Fixed Telecom businesses.

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Financial Performance

Indosat stated that a combination of growth and cost optimization has led to a 24 percent year-on-year increase in EBITDA, reaching USD 1.1 billion in 9M23. This resulted in an EBITDA margin of 46.6 percent for 9M 2023, reflecting a 5.8 percent increase. The company reported a net profit of USD 179.5 million, maintaining a positive performance for 11 consecutive quarters, setting a new record.

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Vikram Sinha, President Director and CEO of Indosat Ooredoo Hutchison said: “We are pleased to record robust financial and operation performance during 9M23, including delivering an eleventh consecutive quarter of positive net profit. Our performance has been driven by our commitment to excellence, a meticulously planned go-to-market strategy, and our unwavering focus on delivering a marvelous experience for customers. Indosat’s scale and performance are enabling us to make real strides forward in delivering on our larger purpose to connect and empower the people of Indonesia by accelerating the nation’s digital transformation.”

Network Strengthening

Indosat has reported a 16.5 percent year-on-year increase in data traffic, totaling 10,957,999 terabytes. Additionally, the telco highlighted that it has further strengthened its 4G network in the Nusa Tenggara region of Eastern Indonesia, now reaching over 80 percent of the population throughout Nusa Tenggara.