Indosat Net Income Grows to Rp1.1 Trillion

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JAKARTA, presidentpost.com – Indosat Ooredoo posted a net profit of Rp1.1 trillion, up 2.8% over the previous year. The cellular provider company also booked a consolidated revenue of Rp29.9 trillion, mainly supported by the growth of B2B or MIDI of almost 10% while the revenue from mobile data services grew by 40.2% over the previous year to Rp14.5 trillion.

By the end of 2017, Indosat claims to have customers of 73 million cellphone users contributing 60% of the mobile data revenues.

“We are very excited about this growth,” Indosat President Director & CEO Ooredoo Joy Wahjudi told a press conference on Friday (3/30).

The various corporate initiatives in improving operational efficiency, the focus on strategy, business and aggressive product marketing are considered to have yielded the promising results.

“The company’s operating profit grew strong and healthy, continuing the strong performance in the previous year. For three consecutive years, Indosat Ooredoo has managed to record a growth,” Joy added.

The Indosat’s growth is also supported by the efficiency of the financial burden. The debt in rupiah decreased by 3.3% or Rp660.2 billion compared to 2016. The USD denominated debt decreased by 49.9% from US$180.1 million (12.1% of total debt) in 2016 to US$90.3 million (6.3% of total debt) in 2017.

In November 2017 the company issued Indosat II Phase II Bonds and Indosat Second Sukuk Ijarah Bonds with a total proceed of Rp3.42 trillion.

According to Joy, Indosat will continue to expand its networks and improve its services to the customers. Indosat has built 4,874 additional BTS of which 51% of them are 4G. The total number of Indosat BTS by the end of 2017 is 61,357.

“Indosat is very serious in expanding its business especially outside Java, as indicated by additional investment and the company’s Capex of Rp8 trillion for year 2018,” said Joy. (DTK/TPP)