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Indonesia's Indosat says Q1 net profit up 27 pct

Wed May 28, 2008 12:42am EDT

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JAKARTA, May 28 (Reuters) - Indonesia's second largest mobile phone operator, PT Indosat Tbk (ISAT.JK), reported on Wednesday a 27 percent rise in its first-quarter net profit, helped by strong growth in the country's mobile phone business.

Indonesia's mobile phone subscribers have risen sharply in recent years and are expected to climb to 120 million by the end of this year from around 90 million at the end of 2007.

Indosat, around 40 percent owned by Asia Mobile Holdings in which Singapore's ST Telemedia holds a 75 percent stake, said its first-quarter net profit rose to 613.9 billion rupiah ($65.87 million) from 483.9 billion in the same period last year.

Its revenue climbed 13 percent to 4.27 trillion rupiah. ($1 = 9,320 rupiah) (Reporting by Nury Sybli, writing by Harry Suhartono, editing by Sugita Katyal)



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