Indonesia's government made counter measures to reduce the impact of COVID-19 with the community activities restrictions enforcement policy. People lifestyle has changes due to the community activities restrictions. Livelihood of the people transform to digital era where every movement must be done virtually. The need of connectivity leads to increase of mobile data and internet data connectivity this result the telecommunication company must cover the increasing data demands.
The purpose of this study is to analyze the situation of COVID-19 pandemic as a national emergency effect to financial performance and healthiness measurement the telecommunications company in Indonesia namely PT XL Axiata and PT Indosat. Indonesian telecommunication operators are expected long-term benefits from the coronavirus health crisis due to increasing demand for mobile data and internet connectivity. The demand for data services connectivity through mobile and wireless has surged as people shifted their interactions and daily activities online amid COVID-19 community activities restrictions the success of company performance can be translated into the financial performance.
The data used in this research is secondary data published by the respective company to Indonesia stock exchange in the form of an audited financial report. Two companies were observed : PT XL Axiata Tbk and PT Indosat Tbk. The data were collected from audited financial reports during 2017-2023 provided on the official websites. The data were examined using eight financial ratio analyses to assess the financial performance. A statistical paired t-test was applied to validate the significant differences in the financial performances. Altman z-score was implemented to evaluate the healthiness of the company.