Friday, May 13, 2016

Indosat swings to profit in Q1 driven by cellular business

JAKARTA - Indonesian cellular operator PT Indosat Ooredoo Tbk returned to profit in the three months (Q1) of 2016 to Rp217.20 billion (US$16.33 million), compared to a net loss of Rp455.50 billion a year ago. The carrier also reported strong gains in revenue to Rp6.81 trillion from Rp6.09 trillion in Q1 2015, driven by a 15.8 percent year-on-year rise in cellular revenues, fixed data and fixed voice accounted for 13 percent and 4 percent respectively. EBITDA surged 13.7 percent to Rp2.96 trillion. Indosat Ooredoo closed out 1Q16 with a total of 69.8 million mobile subscribers, up 4.9 percent on an annualized basis, of whom some 29.2 million (or 42.3 percent of the total) were connected to data services using a smartphone. (*)