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