Indonesia's Indosat says 9-mth net profit falls 63 pct

PT Indosat (ISAT), Indonesia's second biggest telecommunications firm, posted net profit for January-September of 530.9 billion rupiah ($59.43 million) on Thursday, down 63 percent from a year ago.

Indosat, which had 39.7 million subscribers by September, said revenue was 14.84 trillion rupiah, up 8 percent from the same period a year ago.

Indosat said last month it saw 2010 revenue growth of about 9-10 percent, while its cellular unit revenue growth would be higher at 16-17 percent. The company expects to have 41-42 million subscribers by year-end.

Indonesia is one of the world's most crowded telecommunications markets, with 11 operators fighting for custom in a population of 237 million.
Indosat, controlled by Qatar Telecom (QTEL.QA), is well behind PT Telkomsel, a

subsidiary of PT Telekomunikasi Indonesia, with 88 million subscribers, but ahead of PT XL Axiata's (EXCL) 35 million.

Shares in Indosat have climbed 28 percent this year, lagging a 41 percent rally in the broader Jakarta index but outperforming Telkom's 4 percent fall. Source: Reuters