Telco operator XL Axiata (EXCL) booked a net profit of Rp320 billion in the first quarter (Q1) of 2021–it dropped 79% year on year (y/y) as it only booked Rp101 billion gain from tower sales and leaseback. In Q1 of 2020, it gained Rp1.62 trillion from tower sales and leaseback. Revenue declined 4.6% y/y to Rp6.2 trillion.
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