Indosat's profit rises by 61.1%

Indosat's profit rises by 61.1%

JAKARTA (JP): PT Indosat reported yesterday a 61.1 percent increase in its net profit for the nine months that ended on Sept. 30 to Rp 342.2 billion (US$150.3 million) from Rp 205.9 billion in the same period of last year.

Indosat's president, Tjahyono Soerjodibroto, said here yesterday that the sharp increase in the net income was partly due to a significant increase in the volume of international telephone traffic.

"The rise in the telephone traffic volume was very encouraging, given stiffer competition in international telephone services," he said.

Indosat, the first Indonesian firm listed on the New York Stock Exchange, was the only company providing international telecommunications services in the country up to the operation of PT Satelindo in November last year.

Satelindo, 7.5 percent owned by Indosat, has taken between 2 percent and 3 percent of the international telecommunication market, Tjahyono said recently.

Indosat booked a 15.4 percent increase in the total revenues in the first six months ended in June to Rp 498.4 billion from Rp 431.9 billion in the same period of 1994.

The net profit in the first six months rose by 73 percent to Rp 220.7 billion from Rp 127.6 billion in the corresponding period of 1994.

Tjahyono said that the total profit of the company is projected to increase by from 45 percent to 55 percent in the whole of 1995. (hen)