Bloomberg News

Telkom’s Nine-Month Net Income Drops on Non-Recurring Costs

October 28, 2011

(Adds president director comments in second paragraph.)

Oct. 28 (Bloomberg) -- PT Telekomunikasi Indonesia’s net income in the nine months through September fell 6.7 percent from a year earlier after the nation’s biggest telephone company paid workers to retire early.

Net income in the nine months through September declined to 8.3 trillion rupiah ($940 million) from 8.9 trillion rupiah a year earlier, President Director Rinaldi Firmansyah said in a statement in Jakarta today. Nine-month sales gained to 53.05 trillion rupiah from 51.31 trillion rupiah, Firmansyah said. The number of subscribers at mobile-phone unit PT Telekomunikasi Selular rose to 104.1 million from 93.1 million, he said.

Telkom, as the Bandung, West-Java based company is known, spent 956 billion of non-recurring costs, of which 692 billion rupiah was for an early-retirement program, Firmansyah said.

--With assistance from Berni Moestafa in Jakarta. Editor: Greg Ahlstrand

To contact the reporter on this story: Widya Utami in Jakarta at wutami@bloomberg.net

To contact the editor responsible for this story: Greg Ahlstrand at gahlstrand@bloomberng.net


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