MyAdhan Blog

Link: Indonesia’s Telkom Q1 net up 5 pct on mobile users

PT Telekomunikasi Indonesia Tbk TLKM.JK, the country’s largest telecoms firm, posted a lower-than-expected 5.4 percent rise in first-quarter net profit, due to strong growth in mobile subscribers. State-controlled Telkom also announced a 16.8 percent rise in 2007 full-year net profit due to strong gains in its mobile unit, PT Telekomunikasi Selular (Telkomsel), and despite intense competition in the mobile sector. Telkom, valued at $18.7 billion and Indonesia’s largest listed company, said on Thursday its first-quarter net profit increased to 3.21 trillion rupiah ($344.9 million) from 3.0 trillion rupiah and missed analysts’ expectations of 3.37 trillion rupiah. Full-year net profit was 12.86 trillion rupiah versus 11 trillion rupiah in 2006, also below analysts’ forecasts for 13.4 trillion rupiah. Telkomsel, owned 65 percent by Telkom and 35 percent by Singapore Telecommunications Ltd, has more than 50 percent of Indonesia’s mobile phone market. The world’s fourth-most populous country has about 100 million mobile phone users.