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View all search resultsTelcos to benefit long term from crisis as users shift online
With people and businesses, even governments, turning increasingly to the internet for day-to-day interactions and activities, the telecommunications industry is one of the few looking to come out on top from the health crisis.
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I
ndonesian telecommunications firms are expected to reap long-term benefits from the coronavirus health crisis due to increasing demand for mobile data and internet connectivity, say analysts.
The demand for internet services has surged as people shifted their interactions and daily activities online amid COVID-19 physical restrictions, Reliance Sekuritas analyst Anissa Septiwijaya said on Nov. 13.
Anissa said this shift could create a lasting impact for the country’s telcos, as indicated in their financial performances in the first nine months of the year.
“Telcos’ financial performances have remained stable amid the pandemic, compared to companies in other sectors that experienced significant [financial] decline,” she told The Jakarta Post by text message.
In September, publicly listed PT XL Axiata recorded a 5.1 percent increase in annual revenue to Rp 19.66 trillion (US$1.4 billion), while its profit skyrocketed 316.3 percent year-on-year (yoy) to Rp 2.08 trillion following the sales of 2,782 telecommunications towers earlier this year.
XL Axiata chief financial officer Budi Pramantika earlier attributed its top-line and bottom-line growths to a 12 percent yoy rise in data revenue to Rp 16.7 trillion.
“Most of our customers were working and studying [from home] during the pandemic in accordance with the government advisory,” he said during a media briefing on Oct. 6.
