Rupiah's sharp depreciation affects Telkom's net profit<\/p>\n
JAKARTA (JP): State-owned domestic telecommunications operator
\nPT Telkom reported yesterday a slower growth in its net profit in
\nthe third quarter of this year due to the sharp deprecation of
\nthe rupiah against the dollar since last July.<\/p>\n
The company announced that its net profit rose less than 0.1
\npercent to Rp 1.126 trillion in the 1997 January to September
\nperiod from Rp 1.125 trillion in last year's corresponding
\nperiod.<\/p>\n
Telkom said that its earning per share was Rp 120.7 (74 U.S.
\ncents per American Depository Share, ADS).<\/p>\n
\"The low growth in net income was caused mainly by foreign
\nexchange losses which amounted to Rp 146.1 billion (US$44.6
\nmillion) resulting from the 37.4 percent depreciation of the
\nrupiah between December 1996 and September 1997,\" the company
\nsaid.<\/p>\n
\"Currency losses have been fully booked by Telkom for the
\nperiod and an additional amount of Rp 88.7 billion ($27.1
\nmillion) has been capitalized for construction in progress.\"<\/p>\n
In comparison, during the 1996 January to September period,
\nTelkom's net profit reached Rp 1.125 trillion, up by 28.91
\npercent over the same period in 1995. Its operating income rose
\nto Rp 3.69 trillion in the third quarter of 1996, an increase of
\n15.8 percent over 1995. Telkom's earnings per share increased to
\nRp 120.59 in the first nine months of last year from Rp 104.58 in
\nthe previous year, while earnings per ADS rose to $1.03 from 92
\ncents.<\/p>\n
Telkom said yesterday its operating revenue grew by 18.5
\npercent to Rp 4.38 trillion in the third quarter of this year.<\/p>\n
\"The increase in operating revenues was largely attributed to
\nthe company's continued growth in the number of lines in service,
\ngrowth in pulse production, growth of revenue from joint
\noperation (KSO) schemes and increased interconnection revenue
\nwith other telecommunications operators.<\/p>\n
Telephone usage measured in pulses during the nine months of
\n1997 (excluding pay phones and cellular phones) increased 18.8
\npercent to 30.8 billion pulses, 17.4 billion out of which came
\nfrom the Telkom regions of the greater Jakarta area and East
\nJava.<\/p>\n
During the same period, the company added 569,572 lines, a 9.4
\npercent drop from the 628,447 additional lines installed in the
\nsame period in 1996.<\/p>\n
As of Sept. 30, Telkom has 4.7 million lines in service, a
\n21.3 percent increase over last year.<\/p>\n
The number of lines in service consist of 2.6 million in two
\nregions controlled by the company and 2.1 million in five regions
\ncontrolled by private companies under a 15 year contract with
\nTelkom until 2010. The number of subscribers increased by 21.1
\npercent to 4.6 million compared to 3.8 million a year ago, while
\nlines per 100 inhabitants increased to 2.4 from 1.9.<\/p>\n
Telkom is listed on the Jakarta, Surabaya, London and New York
\nstock exchanges.<\/p>\n
The company said the government is expected to introduce a new
\ncall tariff structure by next January. Telkom expects tariffs to
\nbe more beneficial both for the company as well as subscribers.<\/p>\n
Cellular<\/p>\n
Telkom also reported yesterday that as of Sept. 30, the total
\nnumber of cellular users in Indonesia was 1,041,467.<\/p>\n
\"The market leader now has shifted from PT Satelindo to PT
\nTelkomsel with a total of 372,698 users.\"<\/p>\n
Telkom, which partly controls each of the seven cellular
\noperators in Indonesia, has a 42.72 percent share in Telkomsel
\nand a 22.5 percent share in Satelindo. (icn)<\/p>\n
Operator Q III 1996 Q III 1997 Growth (%)<\/p>\n
-----------------------------------------------------------<\/p>\n
Excelcomindo (GSM) - 111,989 -<\/p>\n
Komselindo (AMPS) 90,958 114,000 25.33<\/p>\n
Metrosel (AMPS) 22,102 37,178 68.21<\/p>\n
Mobisel (NMT) 22,907 30,847 34.66<\/p>\n
Satelindo (GSM) 190,000 368,113 93.74<\/p>\n
Telesera (AMPS) 6,158 6,642 7.86<\/p>\n
Telkomsel (GSM) 130,682 372,698 185.19<\/p>\n
-----------------------------------------------------------<\/p>\n
Total 462,807 1,041,467 125.03 (average)<\/p>\n
Source: Telkom<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/rupiahs-sharp-depreciation-affects-telkoms-net-profit-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }