Telkom Indonesia’s Adjusted Earnings Rise as Net Profit Falls to 14.446 Trillion Rupiah
Key Facts
Telkom Indonesia reported results for the first nine months of 2026, with profit attributable to owners of the parent falling to 14.446 trillion rupiah from 15.031 trillion in the same period of 2025. Comparative statements show that growth in some operating indicators did not translate into higher net profit attributable to shareholders. Operating profit fell to 27.999 trillion rupiah from 28.244 trillion, while pretax profit rose to 25.726 trillion from 25.493 trillion. The figures present a mixed picture of operating profitability, pretax profit and net profit. The disclosure comes as the company’s shares fell in the Nov. 3 session, according to historical price data.
The disclosure showed a heavier investment item in the year-on-year comparison: unrealized losses from changes in the fair value of investments totaled 1.663 trillion rupiah in the first nine months of 2026, compared with 360 billion rupiah in the same period a year earlier. These are unrealized losses that the company included in its income statement, not a description of an operating loss. Telkom linked part of them to Telkomsel’s investment in GOTO; the unrealized loss on that investment was 759 billion rupiah, up from 380 billion in 2025. The company used a price of 32 rupiah per GOTO share in its valuation on September 30, 2026, compared with 54 rupiah on September 30, 2025. This item helps explain the divergence between rising pretax profit and falling profit attributable to owners of the parent.
On revenue, Telkom said growth in data, internet and information technology services was supported by continued increases in customers’ data consumption and demand for more reliable digital services. The company viewed this shift as an opportunity to develop its business and maximize the value of connectivity and infrastructure. These factors place digital activity at the heart of its explanation of business performance, alongside the reorganization of network assets. The company’s president said the transformation focuses on "growth and strengthening the long-term commercial foundations." He added that rising data consumption is accompanied by greater demand for digital services that customers can rely on. The management message thus combines expanding digital demand with efforts to strengthen the commercial foundations for the period ahead.
As part of its infrastructure restructuring, Telkom said it completed the separation of its wholesale fiber connectivity assets and business into InfraNexia on September 30, 2026. It said more than 90% of TelkomGroup’s network assets were consolidated in InfraNexia following the separation. The move points to an effort to organize wholesale fiber assets within a dedicated entity as the group continues to develop its connectivity and digital services businesses. The shift provides an organizational backdrop to management’s remarks about strengthening the long-term commercial foundations. It also links the network strategy to developing the value of the infrastructure used by data services. The company included the move as part of its transformation, alongside its focus on growth in digital consumption.
In the market, TLKM shares closed at 1,875 rupiah on November 3, 2026, down 4.34% in the session, according to historical data from Investing.com. The shares had closed at 1,960 rupiah in the previous session, November 2, down 1.01%. These prices show the shares fell in both sessions, but do not establish the reason for the move or a direct link to the results announcement. In the broader economy, Indonesia’s annual inflation was 3.23% in October, compared with 3.28% in September, while monthly inflation was 0.22%. Core inflation was 2.56%, while inflation in volatile food prices reached 5.81%.