Indosat reports widening losses in Q1

8 May 2013

Indonesia’s second largest telecoms operator by subscribers and revenue, PT Indosat, booked a net loss of IDR71.1 billion (USD7.32 million) in the first three months of this year, compared to losses of IDR22.6 billion in the year-earlier period. In a press conference, the company’s finance director Stefan Carllson told reporters that the widening losses came despite a 17.6% rise in revenue in the period under review to IDR5.79 trillion, compared to the IDR4.92 trillion reported in January-March 2012, thanks to the introduction of new products and services. Dow Jones Newswires quotes Carllson as saying though that Indosat booked IDR3.36 trillion in tower leasing costs in 1Q13, marking a sharp jump from the IDR951.1 billion figure reported a year earlier due to what he termed ‘accounting requirements’. According to the official, Idnosat closed out March 2013 with a total of 55.9 million subscribers, up 7.4% from 52.1 million a year earlier.

Indonesia, Indosat Ooredoo Hutchison (IOH)