Bakrie Telecom’s net profit plunges 79 percent in Q1 on forex losses

Wednesday, May 6, 2009 11:06 AM

 

 

Bakrie Telecom’s net profit plunges 79 percent in Q1 on forex losses

 

Ika Krismantari ,  The Jakarta Post ,  Jakarta   |  Mon, 05/04/2009 12:41 PM  |  National

PT Bakrie Telecom (Btel) – the operator of CDMA brand Esia and wireless telecommunications services Wifone and Wimode – said its net profit has dropped by 79 percent in the first quarter of this year as the company booked higher foreign exchange losses on a weaker rupiah.

 

Bakrie’s net profit plunged to Rp 5.7 billion (US$535,800) in the first quarter of this year compared to Rp 27.4 billion in the same period last year, a statement issued by the company at the weekend stated.

 

The drop in net profit was attributable to foreign exchange losses of Rp 14.2 billion, recorded by the company as of March 2009 against a profit of Rp 25.9 billion last year.

 

However, the company saw a significant jump in the number of its subscribers, rising to 8 million people in the first three months of this year from 4.5 million in the same period last year.

~ by telcoindustry on May 6, 2009.

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