Telkom Q3 Net Profit Falls 17% on Higher Costs
October 28, 2011
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Telekomunikasi Indonesia, Indonesia’s biggest telecoms firm, said on Friday that its third quarter net profit fell 17 percent on higher costs.
The firm posted 2.4 trillion rupiah net profit in the third quarter, versus Rp 2.9 trillion ($328 million) in the same period last year, according to Reuters calculations based on published nine-month and six-month figures.
Telkom, which aims to buy a 35 percent stake in its mobile unit Telkomsel from Singapore’s Singtel, is expected to post a full year 2011 net profit of Rp 12 trillion, according to a consensus of analysts by Thomson Reuters I/B/E/S.
Shares in Telkom were down 1.3 percent by 0527 GMT after the results. They fell nearly 4.8 percent in the first nine months of the year to underperform a Jakarta index down around 4 percent.
Reuters
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