PT Telkom Indonesia (Persero) Tbk said net profit attributable to owners fell 3.9% to Rp14.45 trillion in the first nine months of 2026, from Rp15.03 trillion a year earlier, even as revenue rose 3.5% to Rp113.5 trillion.

The results, filed with the stock exchange at the end of October and explained by management in a statement on Monday, Nov. 2, show sales growing while costs and one-off charges ate into the bottom line. For investors in a Jakarta market that has been under pressure, Telkom's earnings are a read on how fast Indonesian households and businesses are moving to paid data services.

Telkom revenue led by data and IT services

Data, internet and IT services, now the bulk of the business, brought in Rp71.5 trillion, up 8.3% from a year earlier, according to the company's figures reported by IDX Channel. Earnings before interest, tax, depreciation and amortization rose 2% to Rp55.5 trillion, for a margin of 48.9%.

Strip out one-off items and the picture improves. Normalized net profit rose 3.9% to Rp16.5 trillion, the company said.

The gap between the two profit measures sits partly in the investment book. According to the financial statements reported by Investor Trust, Telkom booked an unrealized loss of Rp1.66 trillion from changes in the fair value of investments. Depreciation and amortization ran at Rp25.77 trillion and employee costs at Rp11.68 trillion. Operating profit slipped to Rp28 trillion from Rp28.24 trillion. A net foreign exchange gain of Rp292 billion offered small relief.

President Director Nanang Hendarno said in the statement that public consumption of data services keeps rising. He tied the results to the group's "TLKM 30" transformation plan, which he said focuses on strengthening the core business and operating efficiency.

Telkomsel and IndiHome: slower growth, higher spending per user

The consumer segment, which combines mobile and fixed broadband, generated Rp81.6 trillion, up 3.5%. Within it, mobile unit Telkomsel posted revenue of Rp82.9 trillion, up just 1.8%. Telkomsel's digital business, which covers data and digital services, grew faster, rising 7.7% to Rp60.7 trillion.

The more encouraging number for Telkomsel was average revenue per user. Cellular ARPU rose 7.1% to Rp45,400, outpacing the unit's overall revenue growth.

Fixed broadband service IndiHome earned Rp19.1 trillion. It ended September with 9.63 million subscribers, up 1.2% from the end of June, and ARPU rose 3.2% to Rp217,700, according to IndoTelko.

NeutraDC data centers grow fastest

Business segments were smaller but quicker. B2B infrastructure revenue rose 5.5% to Rp7.1 trillion. Inside it, data center unit NeutraDC lifted revenue 17% to Rp1.39 trillion, with EBITDA up 35%. Telkom said it is targeting 400 megawatts of data center capacity, with an aspiration of reaching 1 gigawatt.

B2B ICT, which sells connectivity and IT services to companies, grew 3.1% to Rp11.2 trillion. Small and medium-sized business revenue was the main driver, up 10.2% to Rp3.3 trillion, and subscribers to the Indibiz service rose 10.9% to 771,100.

The international segment, run largely through subsidiary Telin, grew 5.8% to Rp8.9 trillion. Network revenue there jumped 50.2% to Rp1.37 trillion, IndoTelko reported.

Capital spending reached Rp15.7 trillion, or 13.8% of revenue, with 94.3% directed to consumer and B2B infrastructure.

The restructuring is also showing up in the corporate chart. Telkom has restructured 14 entities under TLKM 30, divesting three, closing nine and merging two. On Sept. 30 it completed the separation of its wholesale fiber business into InfraNexia, which now holds more than 90% of the group's network assets, according to IndoTelko.

The fourth quarter will be the first full period with the fiber assets sitting in InfraNexia, and the company said its INSICA cable project is targeted for completion in that quarter.