BTEL Posts Increase In Income To Rp838 Billion

Jakarta, Dec 18 (ANTARA) - Publicly traded cellular phone operator PT Bakrie Telecom (BTEL) reported a 19.4 percent increase in gross income to Rp838.3 billion in the third quarter from the previous quarter this year. The company recorded Rp702 billion in gross income in the second quarter of the year, up 4.3 percent from Rp673.3 billion in the first quarter , its president Jastiro Abi said. Earning before interest, tax, depreciation and amortization rose 31.1 percent to Rp324.3 billion in the third quarter from the previous quarter this year, Jastiro said here on Tuesday. He said the company suffered a net loss of Rp988.3 billion in the first nine months of the year mainly in foreign exchange loss that caused an increase in the company`s debt repayment burden The company , however, recorded an increase in the number of subsidiaries from 11.2 million in the first quarter to 12 million in the third quarter of the year. Jastiro said a significant increase was recorded in the number of the company`s EVDA data subsidiaries . "The number of EVDO service subsidiaries grew 18.9 percent from 306,300 in the first quarter to 364,1000 in the second quarter of the year, and up again 30 percent to 474,000 by the end of September," he said. He said in September this year, the company repaid a bond debt of Rp650 billion with equity and loan funds. The repayment of the debt was part of the company`s program of financial revitalization and strengthening, he said. "The repayment of the debt improved the confidence of financiers and investors in the company," he said. The international rating agency S&P has raised the company`s rating to B- from CCC+ earlier.