XL Axiata has revealed its profit rose 69% year-on-year in 2010, due to a growing subscriber base and swelling revenue from services.
A statement issued by the Indonesia-based mobile operator said earnings rose to 2.89 trillion rupiah ($320.8 million) last year from 1.71 trillion rupiah in 2009, while revenue grew 27% to hit 17.63 trillion.
XL Axiata’s subscriber base had grown 28% to hit 40.4 million in 2010. As a result voice revenue grew 20% to 8.5 trillion rupiah. SMS revenue rose 29% while revenue from data and value-added services grew 85%.
The company said its November launch of its mobile data service, which provided users with social networking and access to mobile news, had helped revenue from data and value-added services grow substantially.
The service had garnered 1 million users within three weeks of its launch. XL’s music download service, which was also introduced in Q4 last year, also contributed to the gains.
The company said this year’s expenditure would be geared toward network expansion and infrastructure. XL Axiata announced plans to invest 5 trillion rupiah towards this cause.
Malaysia’s Axiata Group holds a 66.7% stake in XL Axiata, with the remaining shares held by Etisalat.