XLSMART Telecom Sejahtera stock falls 2.09 percent on October 7

XLSMART Telecom Sejahtera stock (ISIN ID1000102502) was trading at IDR 2,340 on the Indonesia Stock Exchange on October 7, 2026, down 2.09 percent from the prior close. The move leaves the share IDR 70 above its 52-week low of IDR 2,270 and IDR 2,210 below its 52-week high of IDR 4,550.

Second-quarter revenue reaches IDR 12.17 trillion

Yahoo Finance lists second-quarter 2026 revenue at IDR 12.17 trillion and earnings at a loss of IDR 277.22 billion. The quarterly profit margin was negative 2.28 percent, giving the stock a fundamental counterweight to its merger-related growth story.

Kontan reported on September 8, 2026, that second-quarter revenue reached IDR 12.20 trillion, up 3 percent quarter over quarter and 16 percent year over year, according to analyst estimates cited in the report. The difference between the portal figures reflects rounding, while both point to double-digit annual revenue growth.

Merger benefits meet higher investment

According to Kontan on September 8, 2026, EXCL lifted its capital spending target to IDR 20 trillion from IDR 15 trillion to accelerate 5G deployment. The report also placed the customer base at 69 million in the second quarter of 2026.

The investment case therefore depends on converting network expansion into recurring wireless revenue. Kontan reported that wireless revenue declined 0.5 percent quarter over quarter as blended average revenue per user fell 1 percent, while interconnection and other telecommunications services grew 85 percent year over year.

Analyst targets split the outlook

Analyst views cited by Kontan on September 8, 2026, show a wide valuation gap. UBS analyst Ivan Reynaldo Sutheja rated the stock Neutral with a target of IDR 2,910, while J.P. Morgan analyst Ranjan Sharma kept an Underweight rating with a target of IDR 1,700.

At IDR 2,340, the Neutral target lies 24.4 percent above the stock price, while the Underweight target lies 27.4 percent below it. The spread places execution, cash flow and wireless-market performance at the center of the valuation debate.

Stock remains near its yearly low

XLSMART Telecom Sejahtera had a market capitalization of IDR 42.6 trillion as of October 7, 2026, with trading volume at 5,549,000 shares. The current price is 48.6 percent below the 52-week high, keeping the chart position closer to the yearly low than the yearly peak.

For investors, the key distinction is between reported revenue growth and the pace of earnings recovery. The second-quarter loss, higher 5G investment and weaker wireless metrics make margin improvement the next measurable test for XLSMART Telecom Sejahtera.

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