Telkom Indonesia stock edges higher as InfraNexia spin-off and BATIC 2026 underpin strategy

Telkom Indonesia stock is trading near recent highs as investors weigh stronger first half 2026 earnings, the InfraNexia spin-off and the digital hub signal from BATIC 2026 alongside continued foreign selling.

Telkom Indonesia stock (ISIN ID1000097405) is drawing attention around September 3, 2026 as investors digest stronger first half 2026 earnings, a completed InfraNexia spin-off and Telkom’s role in the Bali Annual Telkom International Conference (BATIC) 2026, while market data point to a share price around 2,590 Indonesian rupiah and subdued recent performance.

First half 2026 earnings show modest growth

According to a report from CNBC Indonesia dated September 3, 2026, Telkom Indonesia booked net profit of IDR 10.6 trillion in the first half of 2026, up 1.4% compared with the same period a year earlier.

The same report highlights that normalized net profit for the first half reached IDR 11.3 trillion, representing 6.2% year on year growth, which suggests that underlying profitability is improving faster than the headline figure.

CNBC Indonesia also notes that net profit for the second quarter of 2026 came in at IDR 5.27 trillion, up around 3.7% versus the first quarter 2026 level of IDR 5.09 trillion, indicating sequential profit momentum despite pressure on margins.

Telkom’s net profit margin in the first half 2026 stood at about 14%, a decrease of 35 basis points year on year, showing that while earnings are growing, competitive and cost dynamics are shaving a small portion off profitability.

Public expose highlights revenue and EBITDA trends

Fresh financial highlights were presented in a Public Expose Live 2026 document on the Indonesia Stock Exchange, where Telkom Indonesia reported revenue of IDR 37.5 trillion for the relevant period, representing an increase of 3.8% year on year according to the IDX Public Expose Live 2026 material.

The same highlights show Telkom’s EBITDA margin at 49.4%, with the company indicating margin expansion of 230 basis points year on year and 90 basis points compared with the prior period, underscoring management’s focus on efficiency and higher-margin digital services.

For investors, the combination of mid single digit revenue growth and a nearly 2.3 percentage point improvement in EBITDA margin is central to the investment case, as it suggests Telkom is successfully shifting its mix toward more profitable connectivity, data and cloud offerings.

Stock performance and foreign flow context

A daily focus table compiled by Mirae Asset on September 3, 2026 lists Telkom Indonesia (TLKM) at a share price of IDR 2,590 with a market capitalization of IDR 256,571 billion, with recent performance figures showing the stock down 0.8% on the day and negative over one and three month horizons.

Earlier data cited by a previous Ad Hoc News article had Telkom trading around IDR 2,750 on September 2, 2026, implying that the IDR 2,590 level in the Mirae Asset table reflects some short term pullback from that higher area and leaves the stock below its recent local peak.

Investor Daily notes that foreign investors have been net sellers of Telkom, with cumulative net foreign selling reaching IDR 101.8 billion as of early September 2026 according to Investor Daily’s foreign flow overview, a factor that has weighed on short term share performance.

At a New York Stock Exchange price regionally reported near 14.74 United States dollars for the Telkom ADR TLK with a forward annual dividend of about 1.22 United States dollars, the implied dividend yield is around 8.38% based on that level, making Telkom one of the higher yielding telecom names for international investors.

InfraNexia spin-off and Digiserve acquisition plan

Strategically, Telkom Indonesia has been reshaping its infrastructure portfolio, completing the spin-off of InfraNexia as a wholly owned subsidiary recently, as reported by Developing Telecoms, which positions the unit to enhance DWDM services between Sumatra and Batam.

In parallel, Telkom plans to acquire 100% of the shares of PT Digital Aplikasi Solusi (Digiserve), an information technology services company, from existing shareholders, as detailed in a Bisnis com market article dated September 2, 2026.

For investors, the InfraNexia spin-off and planned Digiserve acquisition underline Telkom’s strategy to strengthen its digital infrastructure and enterprise solutions capabilities, which can support EBITDA margin expansion if integration proceeds smoothly and cross selling to corporate clients accelerates.

BATIC 2026 cements digital hub role

On the industry side, Telkom has used BATIC 2026 to showcase Indonesia as a regional digital hub, with the Bali Annual Telkom International Conference gathering more than 2,700 delegates from 67 countries between August 24 and August 28, 2026 as reported by JPNN.

The conference focused on themes such as strengthening connectivity infrastructure, cloud services and the use of artificial intelligence, and included a donation commitment of 10,000 United States dollars as highlighted by Warta Ekonomi’s coverage, reinforcing Telkom’s role in regional digital collaboration.

Additionally, Telkom has launched the Bumi Berseru Fest 2026 environmental competition under the theme Tanah Air Kita in Malang, aiming to drive sustainable conservation initiatives, according to Telkom’s own English language news release, which adds an ESG angle to the investment narrative.

Consumer and enterprise connectivity services

Telkom Indonesia’s core product and service offering spans fixed broadband, mobile connectivity and enterprise solutions under the IndiHome and Telkomsel brands, alongside wholesale capacity and data center services that support the wider Indonesian digital economy.

As outlined on Telkom’s corporate portal, the company is classified under the infrastructure and telecommunication sector on the Indonesia Stock Exchange, signaling its central role in network build out and digital services in the country.

Stock price level for Telkom Indonesia

Based on the Mirae Asset Indonesia Daily Focus table dated September 3, 2026, Telkom Indonesia’s TLKM shares are shown at a price of IDR 2,590 on the Indonesia Stock Exchange, with a corresponding market capitalization of approximately IDR 256,571 billion as of that date.

Telkom Indonesia stock facts

• Company: Telkom Indonesia Persero Tbk PT
• ISIN: ID1000097405
• Ticker: TLKM
• Trading venue: Indonesia Stock Exchange (IDX)
• Price (as of September 3, 2026): 2,590 IDR
• Market capitalization: 256,571,000,000,000 IDR (as of September 3, 2026)
• Sector / Industry: Telecommunications infrastructure
• Index membership: MSCI Indonesia constituent, IDX infrastructure and telecommunication segment