Indonesia-based CDMA operator Bakrie Telecom has reported a 41.12 billion rupiah ($4.8 million) net loss for Q1 this year on rising investment costs.
The results stand in contrast to the 29 billion rupiah net profit the firm reported during the same period last year.
Operating revenue for the quarter stood at 717.94 billion rupiah, a 1.27% increase year-on-year, while operating expenses grew 16.5% to 704.96 billion rupiah, while financing charges had increased 127% to 200.5 billion rupiah.
Ebit therefore fell 87% to 12.96 billion rupiah.
According to Indonesia Today, Bakrie invested $400 million to expand and upgrade its broadband network between 2009 – 2010 period, including an upgrade to 1x-EVDO Rev A. The firm plans to spend $200 million on network upgrades this year.
Bakrie had 13.6 million customers at the end of Q1, a 23.2% year-on-year increase.