Telkom's profit doubled last year

Telkom's profit doubled last year

JAKARTA: PT Telekomunikasi Indonesia (PT Telkom), a state- controlled telecommunication company, on Monday said 2002 net profit nearly doubled from a year earlier, thanks to higher revenue contributions from its cellular and fixed-line divisions.

Net profit surged to Rp 8.345 trillion from Rp 4.250 trillion in 2001, while revenue rose 33 percent to Rp 21.399 trillion from Rp 16.131 trillion.

Its cellular business contributed revenue of Rp 6.226 trillion, up 32 percent from Rp 4.708 trillion a year earlier. Revenue from the cellular division made up around 29 percent of total revenue.

The company said revenue from fixed-line services expanded 30 percent to Rp 8.327 trillion - making up around 38 percent of total revenue - from Rp 6.415 trillion in 2001.

Telkom currently has around 5 million cellular subscribers and operates more than 7.5 million domestic lines throughout Indonesia.

The Indonesian government owns a 51.2 percent stake in Telkom and the public holds the remaining 48.8 percent.

Telkom has a 65 percent stake in Telkomsel, while Singapore Telecommunication Ltd. owns 35 percent. -- Dow Jones