It also saw an increase in average revenue per user (ARPU) to Rp 29,600, higher than the Rp 26,500 recorded in the same period of 2019, thanks to a 63 percent annual jump in data traffic.“The rise in net losses was primarily driven by a one-off impact of organization rightsizing and losses in foreign exchange,” the company said in the statement.The firm announced earlier this year that it was laying off 677 employees as part of a change in its business strategy “to bring the company’s closer to market needs”. The company allocated Rp 663 billion for compensation packages, with an additional bonus of Rp 18.3 billion to 92 percent of employees that accepted the decision.The company’s costs went up by almost 9 percent annually in this year’s first quarter to Rp 6.33 trillion. Telecommunication company PT Indosat reported an increase in losses during this year’s first quarter despite growing revenue as its organization rightsizing added to costs.The publicly listed company recorded Rp 605.61 billion (US$40.37 million) in loses in the January-March quarter, 107.04 percent higher than the corresponding period last year.However, it booked a 7.9 percent year-on-year (yoy) increase in revenue to Rp 6.5 trillion during the quarter, largely driven by a 10.6 percent growth in cellular revenue to Rp 5.4 trillion, the company said in a statement on Wednesday. Despite the increased losses and looming risks from the COVID-19 pandemic, president director and chief executive officer Ahmad Al-Neama was still upbeat about the company’s performance, as it was still on track with its three years turnaround plan, saying the company still “sees positive momentum continuing in the coming quarters.”Al-Neama also emphasized the company’s commitment to improving its network performance and services amid the implementation of large-scale social restrictions (PSBB) in several regions.“We have accelerated our network rollout plan to make sure people can stay connected during these times and will continue to support the country through this pandemic,” he said in the statement.Binaartha Parama Sekuritas equity analyst M. Nafan Aji told The Jakarta Post on Thursday that the PSBB measures could benefit Indosat’s performance in the second quarter of this year onward.He expected the measures, which require people to work and study from home, to lead to an increase in data usage, which would boost Indosat’s revenue.He also advised the company to find ways to make its business more efficient.“Without efficiency measures, the company is less likely to improve its performance and turn its bottom line to a profit amid the highly competitive climate of the telecommunications industry,” he said.Indosat shares, traded under the code ISAT, dropped 4.44 percent on Thursday versus a 3.26 percent jump on the main gauge Jakarta Composite Index (JCI). Editor’s note: This article has been revised to state that Indosat’s average revenue per user (ARPU) is Rp 29,600, higher than the Rp 26,500 recorded in the same period of 2019.Topics :
Cowboys quarterback Dak Prescott will play the 2020 NFL season on a one-year exclusive franchise tender after he and the team failed to reach an agreement on a long-term contract by Wednesday’s deadline.Prescott had already signed his tender offer and will earn approximately $31.4 million for the upcoming season before becoming an unrestricted free agent, unless the Cowboys opt to again place the franchise tag on him, a move that would count over $37 million toward the 2021 salary cap. The two-time Pro Bowl selection is one of 10 players who have signed their franchise tenders but were unable to come to terms on multiyear contracts with their respective teams. Two others, Jaguars defensive end Yannick Ngakoue and Bengals wide receiver A.J. Green, have yet to sign their offers.IYER: Titans appear to get a good deal on HenryThe Titans were able to agree to a reported four-year, $50 million contract with 2019 NFL rushing champion Derrick Henry just prior to the deadline, while the defending Super Bowl champion Chiefs locked up defensive lineman Chris Jones with a four-year, $85 million deal on Tuesday.Along with Prescott, Buccaneers pass-rusher Shaq Barrett, Steelers outside linebacker Bud Dupree, Vikings safety Anthony Harris, Chargers tight end Hunter Henry, Ravens pass rusher Matthew Judon, Washington guard Brandon Scherff, Broncos safety Justin Simmons, Patriots guard Joe Thuney and Giants defensive lineman Leonard Williams will play under the franchise tag in 2020.Ngakoue has publicly declared his intention to no longer play for the Jaguars and has requested a trade, though the team has yet to find a suitable offer for the standout edge rusher.MORE: NASCAR champion/Eagles fan assesses Prescott’s playNFL.com reported Wednesday that Prescott received a multiyear offer from the Cowboys shortly before the deadline that would have paid him between $33 million and $35 million annually and included over $100 million in guaranteed money. Further reporting said an agreement could not be reached in time. Prescott, 26, is coming off a stellar 2019 season in which he established career highs with 4,902 passing yards and 30 touchdown passes while directing the NFL’s top-ranked offense in terms of total yards per game.Negotiations between the Cowboys and Prescott were likely impacted by the recent 10-year, $450 million extension the Chiefs gave to 2018 NFL MVP Patrick Mahomes that reset the top end of the quarterback pay scale.Judon is currently slated to earn the second-highest salary among the group unable to land multiyear deals after he and the Ravens agreed to a $16.808 million offer, a compromise between the tender rate for a defensive end and linebacker. Barrett, Dupree and Williams have filed grievances arguing they should be designated as defensive ends, which carries a higher tender value than linebackers or defensive tackles.