Bakrie Telecom reports Rp101 billion in first half operating profit

"Foreign exchange loss, financial cost and depreciation resulted in a net loss of Rp293 billion." 

 

Publicly traded cellular phone operator PT Bakrie Telecom Tbk. (BTEL) said it has succeeded in improving performance recording operating profit in the first half of the year.

The company recorded Rp101 billion in operating profit in the January-June period this year as against loss of Rp287 billion in the same period last year.

The company succeeded in cutting its operating cost by 28 percent to Rp1 trillion from Rp1.4 trillion, its finance director Bachder Bachtarudin said here on Wednesday.

The decline in operating cost contributed to an increase in earning before tax, interest, depreciation and amortization (EBITDA) from Rp442 billion to Rp531 billion or an increase of 20 percent.

"Foreign exchange loss, financial cost and depreciation resulted in a net loss of Rp293 billion," Bachder said.

He said the loss was much smaller than Rp750 billion recorded in the same period last year.

He said the performance of the subsidiary of the Bakrie Group has continued to improve after the revitalization launched by the company.

The process of revitalization and efficiency launched by the company has been up to expectation , marked with the increase in EBITDA, he said.

Sources