Dec 23, 2011

Bakrie Telecom suffers Rp498 bio loss

CDMA-based operator PT Bakrie Telecom Tbk (BTEL) suffered a Rp498.34 billion net loss during the period ended September this year, a reversal from Rp148.59 billion net profit a year earlier.
In the financial statement filed to Indonesia Stock Exchange, it is mentioned that the net loss was contributed by an increase of operating expenses, eroding its revenue.
Bakrie Telecom also suffered a Rp121.55 billion operating loss in 9M 2011, a 163.73% drop from Rp190.72 billion operating profit in 9M 2010.
Operating expansed increased 12.37% to Rp2.09 trillion from Rp1.86 trillion, while the operator's consolidated revenue slightly decreased 3.90% to Rp1.97 trillion from Rp2.05 trillion.

Disclosure: No position at the stock mentioned above.

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