Cash and cash equivalents of Indonesia third largest cellular operator, PT XL Axiata Tbk (EXCL), fell 37.08% from Rp1.17 trillion in 2008 to Rp747.96 billion last year, dragged down by debt payments.
The operator still enabled to book Rp1.71 trillion in net profit last year from a 2008's net loss of Rp15.10 billion.
According to EXCL's financial report, the company paid Rp5.21 trillion long term debt and Rp1.01 trillion interest of long term debt to its creditor.
The operator booked 14% growth in revenue to Rp13.9 trillion last year compared to the previous year. EBITDA rose 21% to Rp6.2 trillion last year. EXCL's cellular subscribers recorded 31.4 million last year.
XL's competitor, PT Indosat Tbk (ISAT), GSM-based operator that is controlled by Qatar Telecom, posted 2009 total subscribers of 33.1 million, beating XL.
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