Indosat reports sharp rise in 2003 profit<\/p>\n
Indonesia's second-largest telecoms company PT Indosat on
\nWednesday reported a sharp rise in 2003 net profit on the back of
\nbetter operating results and a tax benefit.<\/p>\n
The company reported 2003 net profit of Rp 1.57 trillion
\n(US$183 million) compared with 336.25 billion rupiah the previous
\nyear.<\/p>\n
Indosat said sales rose year-on-year to Rp 8.23 trillion from
\nRp 6.76 trillion.<\/p>\n
The company said its cellular operation recorded 2003 sales of
\nRp 5.11 trillion, against Rp 3.27 billion the previous year.
\nRevenue from the core international direct dial business dropped
\nto Rp 1.81 trillion from Rp 2.14 trillion.<\/p>\n
Multimedia, data communication, Internet and other services
\naccounted for the rest of sales.<\/p>\n
Indosat's bottom line saw a huge jump because of tax charges.
\nThe company said it booked a tax benefit of Rp 22.56 billion in
\n2003, compared with net tax charges of Rp 774.36 billion a year
\nearlier.<\/p>\n
Indosat's investor relations head, Sutopo, said the tax
\nbenefit resulted from the booking of deferred tax valued at Rp
\n608.13 billion after the merger with PT Satelit Palapa Indonesia
\n(Satelindo) late last year.<\/p>\n
Indosat has become increasingly dependent on its earnings from
\nthe cellular business compared to its traditional international
\ndirect dial business following the acquisition of Satelindo two
\nyears ago.<\/p>\n
At the end of September 2003, its mobile subscribers stood at
\n5.02 million, up 80.8 percent year-on-year. -- AFP<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/indosat-reports-sharp-rise-in-2003-profit-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}