Indonesian tower company Dayamitra Telekomunikasi (Mitratel) reported a surge in profit on the back of tower acquisitions and growth in tenancy occupations.
In a statement, the Telkom Indonesia subsidiary detailed that it saw profits grow 16.6% year-on-year to IDR14 trillion (US$92.8 million), and revenue increased 11.9% to IDR6.3 trillion.
Mitratel acquired 1,192 towers and built 481 new sites taking its total to 37,091 at the end of September. The company claimed to be the largest tower company in Southeast Asia after this milestone.
President Director Theodorus Ardi Hartokos said going forward the company will “increase asset productivity” which will be done through more tenancies, and boost operational efficiency through digitalisation.
The number of tenants grew 10.5% year-on-year from 50,390 to 55,704. Meanwhile, the number of collocations jumped 21.3% to 18,613 from the previous 15,339 collocations. Its fibre optic network now stands at 29,042km.
"We believe that the future business landscape of the telecommunications industry will be marked by the divestment of towers and fibre optics belonging to the MNO industry. Telecommunication operators do this because they want to focus more on product innovation that provides added value and fulfils consumer needs. This change is certainly an opportunity for Mitratel to become a strategic partner and grow with them,” said Hartokos.