Indosat Ooredoo Hutchison clocks 39% profit hike in Q1

Indonesian operator Indosat Ooredoo Hutchison has reported a strong set of Q1 financials, as it talks up regional corporate tie ups with Nvidia, Cisco and Mastercard.

Andrew Wooden

May 1, 2024

2 Min Read

Indosat recorded total revenue of $873 million in the first quarter of the year, which was up 15.8% YoY, while EBITDA increased by 22.1%, EBITDA Margin by 47.0%, and net profit by 39.4% to $82 million.

The operator cites the driver of these strong results as ‘positive growth momentum across all business lines and a continued commitment to cost optimization.’

It’s customer base increased 2.3% to 100.8 million subscribers during the period, which it said contributed to a ‘commendable surge in data traffic’ – up 14.3% YoY to 3,858 Petabytes (PB).

It also increased the number of 4G base stations by 20.8% to 184 thousand at the end of the quarter, and it also clocked a 13.9% jump in Average Revenue Per User (ARPU) for cellular customers.

“The first quarter of 2024’s remarkable performance reflects our dedication to creating sustainable value for all Indosat’s stakeholders and to empowering Indonesia’s digital economy,” said Vikram Sinha, President Director and Chief Executive Officer of Indosat Ooredoo Hutchison. “We keep improving to enhance our network to ensure seamless connectivity and a marvelous experience for customers across Indonesia. At the same time, we have doubled down on operational excellence and efficiency, which has enabled us to deliver strong revenue growth, while further improving profitability.”

Indosat’s outlook has been revised to ‘Positive’ from ‘Stable’ by the international ratings agency Fitch. Alongside the results, the operator also talked up work it is doing with Nvidia, Cisco and Mastercard in the region.

With its subsidiary Lintasarta, Indosat ‘aims to democratize access’ to Nvidia's AI platform, by which it seems to mean providing an avenue for enterprises in the region to access AI in the cloud. Through this Indosat says it ‘is poised to catalyse Indonesia's digital economic growth by empowering its thriving digital ecosystem.’

Meanwhile we’re told it also bolstered its cybersecurity efforts through collaborations with Cisco and Mastercard. Alongside Cisco it is offering cybersecurity solutions to enterprises, particularly small and medium-sized businesses, while the Indosat-Mastercard Cybersecurity Center of Excellence (CoE) has been set up to foster cybersecurity talent and spearhead ‘industry-wide collaboration in scam detection and mitigation efforts.’

About the Author(s)

Andrew Wooden

Andrew joins on the back of an extensive career in tech journalism and content strategy.

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