Jul 29, 2011

Telkom 1H net profit retreats 1.49%

Indonesia's largest telecommunication operator PT Telekomunikasi Indonesia Tbk (Telkom) today reported a 1.49% decrease in net profit for the first 6 months of this year as a result of higher operating expenses. 
Telkom booked Rp5.94 trillion in net profit or Rp302.05 earning per share in 1H 2011 from Rp6.03 trillion in 1H 2010 or Rp306.67 earning per share.
Operating profit fell 3.70% to Rp10.92 trillion from Rp11.34 trillion on the back of higher operating expenses of 5.19% to Rp23.53 trillion from Rp22.37 trillion. The operator posted a 3.7% decrease in EBITDA to Rp18.07 trillion from Rp18.76 trillion. Telkom's operating revenue slightly increased 2.22% to Rp34.46 trillion from Rp33.71 trillion.
Operational performance
Despite a slight decrease in net profit, cellular subscribers rose 15.8% to 102.30 million from 88.32 million. Flexi's subscribers increased 17.9% to 18.74 million from 15.90 million, while wireline made a 0.3% increase in subscribers to 8.42 million from 8.4 million.

Disclosure: No position at the stock mentioned above.

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