Oct 21, 2010

Indosat 9M earning plunges 63.4%

Indonesia's second largest cellular operator PT Indosat Tbk today announces a 63.4% plunge bottom line as of September 2010 on the back of rupiah appreciation against US$ and higher financing cost.
In a press statement released today, Indosat posted Rp530.9 billion net profit by the end of the third quarter this year from Rp1.45 trillion a year earlier.
Despite lower net profit, the operator stayed at a positive growth on its EBITDA margin. As of September 30 2010, Indosat's EBITDA margin rose 1.9% from 46.1% at the end of September 2010 to 48%.
EBITDA rose 12.6% from Rp6.33 trillion in the first 9 months of last year to Rp7.13 trillion.
Revenue increased 8.1% from Rp13.73 trillion to Rp14.84 trillion as of September 2010. At the end of September 2010, Indosat spent Rp4.34 trillion, less than Rp9.46 trillion a year earlier.
Subscribers grew 40.9% from 28.2 million to 39.7 million in September 2010.
Quarterly result
 Indosat's bottom line in the last 3 months ended September 30 2010 steeply jumped 2,579.12% from Rp9.1 billion in the second quarter to Rp243.8 billion.
EBITDA also rose 5.88% from Rp2.38 trillion the second quarter of 2010 to Rp2.52 trillion in the third quarter. Revenue inched up 6.53% from Rp3.98 trillion in 2Q 2010 to Rp4.24 trillion in 3Q 2010. 

Disclosure: No position at the stock mentioned above.

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