Aug 19, 2011

BTEL 1H suffers Rp179 bio net loss

CDMA-based cellular operator PT Bakrie Telecom Tbk (BTEL) reported a Rp179.7 billion net loss in the first half of this year from Rp2.72 billion net profit in 1H 2010.
In a press statement last night, net revenue slightly increased 0.14% to Rp1.38 trillion from Rp1.37 trillion. Bakrie Telecom's subscribers rose 26.1% to 14 million from 11.1 million subscribers.
According to Rakhmat Junaidi, Director of Corporate Services at Bakrie Telecom, competition in the cellular market is getting tougher.
“In the first half, subscribers for data services were 225,000 from 145,000 in the first quarter. We are optimistic that we can achieve 400,000 subscribers by end of this year," he said.

Disclosure: No position at the stock mentioned above.  

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