Indosat records 64.7% increase in net income

Indosat records 64.7% increase in net income

JAKARTA (JP): PT Indosat, the state-owned international telecommunications company, posted a 64.7 percent increase in its net profit to Rp 105.5 billion (US$47.5 million) in the first quarter of this year from the same period of last year.

The company's president, Tjahjono Soerjodibroto, told a press conference on Thursday evening that Indosat recorded net revenues of Rp 238.8 billion during the first quarter, which indicated a 14.3 percent rise.

"Indosat was successful in booking a higher return during the first quarter because it was very aggressive in developing and promoting its services, such as Indosat Business Service and Indosat Prepaid Card," Tjahjono was quoted by Antara.

He said the relatively high growth of net profit during the first quarter resulted from a slow growth of operating expenses, which stood at Rp 123.5 billion, only 4.5 percent higher than last year.

About 93.8 percent of the company's total income, Tjahjono said, came from its international telephone services.

He noted that Indosat's international direct dialing customers grew to 313,290 as of March 31 from 290,270 as of the end of last September.

During the first quarter, Tjahjono said, Indosat opened lines to more seven countries, enlarging the number of Indosat's destination countries to 222.

Indosat, the first state-owned company listed on an overseas stock market, last year booked Rp 288.90 billion in net profit.

It raised some $800 million from the sale of its shares on the New York Stock Exchange last October and Rp 650 billion on the domestic stock market.

Tjahjono said Indosat will conduct a road show to Singapore, Hong Kong, London, New York and Boston to publicize its performance during the first quarter. (rid)