JAKARTA (TheInsiderStories) – Indonesia based telecommunication provider PT XL Axiata Tbk (IDX: EXCL), booked Rp375.24 billion profit in 2017 or slightly down compared to the same period in 2016 at Rp375.51 billion.
Based on the company’s financial report in 2017, the company’s revenue did not signifcantly increased compared to the same period in 2016. The revenue was Rp22.87 trillion or slightly up compared to the same period in 2016 at Rp 21.34 trillion.
The decrease of the profit was influenced by rising the expenses. The infrastructure expenses were Rp8.57 trillion in the full year of 2017, meanwhile in the same period in 2016 at Rp8.26 trillion.
In the full year of 2017, the data business segment contributed Rp 13.08 trillion or increased compared to the same period in 2016 at Rp8.12 trillion. The nondata at Rp7.35 trillion, Interconnection services at Rp1.38 trillion, leased tower at Rp375.82 billion, leased lines at Rp288.37 billion, and other telecommunication services at Rp411.22 billion.
The company plans to enter pay tv business in Q2, looks to raise US$500 million over 3-5 years, according to Dian Siswarini CEO of XL Axiata. This plan will require external funding, but has not decided wheter to issue bonds.