Indonesia's largest cellular operator PT Indosat Tbk, a subsidiary of Qatar Telecom, today announces a steep drop net profit by 71.5% during the first half this year despite a slight growth revenue.
In a public statement submitted to Indonesia Stock Exchange (IDX) today, Indosat posted Rp287.1 billion net profit in 1H 2010 from a year earlier of Rp1 trillion. But, Indosat hasn't yet explained more detail the reason why it suffered a steep drop net profit.
Indosat President Director Harry Sasongko said EBITDA increased 6.7% from Rp4.32 trillion in 1H 2009 to Rp4.61 trillion, sending a slight growth in EBITDA margin from 47.3% to 47.7%. Indosat's revenue rose 5.8% from Rp9.13 trillion in 1H 2009 to Rp9.66 trillion in 1H 2010.
During the first half of 2010, Indosat has spent Rp3.06 trillion capital expenditure, a 56.3% shrink from a year earlier of Rp6.99 trillion.
Indosat's debt reached Rp24.70 trillion in 1H 2010, a 8,9% increase from 1H 2009 of Rp22.68 trillion. The company's subscribers reached 37.8 million in 1H 2010, 34.5% from a year earlier of 28.1 million subscribers.
Disclosure: No position at the stock mentioned above.
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