Indonesian telecom operator Indosat Ooredoo Hutchison has unveiled impressive financial results for the first quarter of 2024, alongside highlighting strategic partnerships with global tech giants Nvidia, Cisco, and Mastercard.
In Q1, Indosat recorded total revenue of $873 million, marking a robust 15.8% year-on-year increase. Earnings before interest, taxes, depreciation, and amortization (EBITDA) surged by 22.1%, with an EBITDA margin of 47.0%, while net profit soared by 39.4% to reach $82 million.
The company attributed these strong figures to “positive growth momentum across all business lines and a continued commitment to cost optimization.” Indosat’s subscriber base expanded by 2.3% to 100.8 million, contributing to a significant 14.3% year-on-year increase in data traffic to 3,858 Petabytes (PB).
During the quarter, Indosat expanded its 4G base stations by 20.8% to 184 thousand, reflecting its ongoing efforts to enhance network coverage and customer experience. Additionally, the average revenue per user (ARPU) for cellular customers rose by 13.9%.
Vikram Sinha, President Director and CEO of Indosat Ooredoo Hutchison, expressed satisfaction with the company’s performance, emphasizing its dedication to creating sustainable value and driving Indonesia’s digital economy forward. Sinha highlighted ongoing investments in network infrastructure and operational excellence as key factors behind the revenue growth and improved profitability.
Indosat’s positive outlook was acknowledged by Fitch, which revised its rating to ‘Positive’ from ‘Stable’.
In tandem with its financial success, Indosat showcased collaborations with Nvidia, Cisco, and Mastercard. Through its subsidiary Lintasarta, Indosat aims to democratize access to Nvidia’s AI platform, enabling regional enterprises to leverage cloud-based AI solutions.
Moreover, partnerships with Cisco and Mastercard are strengthening Indosat’s cybersecurity capabilities. Collaborative efforts with Cisco are geared towards offering cybersecurity solutions to enterprises, particularly small and medium-sized businesses. The newly established Indosat-Mastercard Cybersecurity Center of Excellence (CoE) is dedicated to developing cybersecurity talent and spearheading industry-wide initiatives in scam detection and mitigation.
