May 11, 2010

Indosat vs XL Axiata

Indonesia's second largest cellular operator PT Indosat Tbk (ISAT) reports a 29.4% drop in operating profit during the first 3 months this year on the back of soaring operating expense, but revenue slightly lower.
In a public statement to Indonesia Stock Exchange today, Indosat, controlled by Qatar Telecom Q.S.C., booked Rp746 billion in operating profit in Q1 2010 from a year before of Rp1.06 trillion.
Revenue slightly increased 2.6% from Rp4.62 trillion in Q1 2009 to Rp4.73 trillion in Q1 2010.
By posting a higher operating expense of 12% from Rp3.56 trillion in Q1 2009 to Rp3.98 trillion in Q1 2010, operating margin fell from 22.73% in Q1 2009 to 15.76% in Q1 2010.
Indosat's net profit rose 132.6% from Rp119.5 billion in Q1 2009 to Rp278 billion in Q1 2010. The company plans to allocate capital expenditure of US$550 million-US$700 million this year.
How about PT XL Axiata Tbk (EXCL)?
Indonesia's three biggest operator XL Axiata posted a 419.03% jump in operating profit from Rp225.28 billion in Q1 2009 to Rp1.17 trillion at the same period this year.
XL booked net profit of Rp598.43 billion in Q1 2010, a 375.49% jump from net loss of Rp217.22 billion in Q1 2009. Foreign exchange loss shrank from Rp643.49 billion in Q1 2009 to Rp60.09 billion.

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