Jul 30, 2010

Telkom 1H net profit down 0.7%

Net profit of Indonesian state own enterprises PT Telekomunikasi Indonesia (Telkom) in the first half 2010 dropped 0.7% from Rp6.04 trillion to Rp6.00 trillion due to higher operating expenses and gain from foreign exchange. 
Operating expenses increase 8.80% to Rp22.88 trillion from Rp21.03 trillion meanwhile decrease in gain on foreign exchange of Rp439 billion from Rp550.45 billion to Rp111.25 billion. 
EBITDA only rose 2.9% or Rp529 billion from Rp18.25 trillion to Rp18.78 trillion. Total revenues of Telkom reported Rp34.24 trillion or grew 5% compared with the same period in 2009 Rp32.61 trillion. 
The increase is mainly attributable to a rise in Data, Internet and IT Services revenue of Rp1.56 trillion or 18% than previous year. 
Cellular revenue increased 3%, while Fixed Line revenue declined 10% compared to first half 2009. Telkom added 6.7 million new cellular customers during first half 2010, an increase of 16.2% to 88.3 million total subcribers. 
Meanwhile, our fixed broadband services reached 1.4 million subscribers, representing growth of 73.6% compared to the same period last year.

Disclosure: No position at the stock mentioned above.

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