XL’s H1 net income climbs on subscribers, FOREX gains

30 Jul 2008

Indonesia’s third largest mobile operator by subscribers, PT Excelcomindo Pratama (XL) yesterday reported that its net profit for the first six months of this year grew 15-fold on the corresponding period of 2007, driven by a doubling of its subscriber base and foreign exchange gains. XL posted net profit of IDR631.3 billion (USD69.25 million) for the January-June period, against IDR41.04 billion a year ago, while its revenue climbed 59% to IDR5.84 trillion. The operator, whose main shareholders are Telekom Malaysia (83.79%) and Emirates Telecommunications (close to 16%), said its customer base leapt 124% year-on-year to 22.9 million by 30 June, although it said increased competition was exerting a squeeze on profit margins.

Indonesia, XL Axiata