Indosat reports 63% fall in 9M10 net profit

21 Oct 2010

Indonesia’s second largest telecoms operator by subscribers, PT Indosat, booked net income of IDR530.9 billion (USD59.43 million) for the January-September period, down 63% year-on-year. Indosat, which had 39.7 million mobile subscribers at the end of the period under review, did not divulge the reason for the sharp drop but noted that revenue was IDR14.84 trillion, up 8% over the same period. The company is fighting for customers in one of the world’s most crowded and hotly contested markets, with eleven operators fighting for market share in a country with a population of 237 million. Last month Indosat reported that it expects FY2010 revenue growth of around 9%-10%, while cellular growth of 16%-17% is forecast. It also hopes to have signed up 41-42 million subscribers by the year end.

Indonesia, Indosat Ooredoo (incl. IM2)