PT Mobile-8 Telekom, the owner of CDMA-based mobile phone service Fren, recorded a 513 percent increase in net profit during the nine months ending Sept. 30 on the back of hefty growth in its subscriber base.
The publicly listed company reported Thursday that following a 73.5 percent rise in the number of its subscribers, it booked a profit of Rp 55 billion during the first three quarters compared with Rp 9 billion a year earlier, chief financial officer Lucy Sutanto said.
"The results ... were consistently good, with gross revenue increasing by 53.8 percent year-on-year and a 73.5 percent increase in our subscriber base to 2.54 million," Lucy said.
"This increase was mainly due to the introduction of new tariffs and the launch of commercial operations in new areas."
The company's gross revenue reached Rp 803.8 billion during the period, a 53.8 percent increase over the previous year. This translates into average revenue of Rp 41,334 per user.
One of the biggest contributors to the revenue increase was the company's operating income, which stood at Rp 112.1 billion as compared to an operating loss of Rp 7.1 billion last year.
"We look forward to even stronger results ahead in line with our plans to launch more marketing initiatives and widen network coverage to other major cities outside Java," Lucy added.
The company now provides services in Java, Madura, Bali, North Sumatra, South Sulawesi and South Kalimantan. (JP/AW)
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