JAKARTA (Yosefardi) – Second largest telecommunication company XL Axiata (EXCL) booked net profit of Rp379 billion in the first quarter of 2014, jumped 51.6% from the corresponding period of 2013.
The growth was attributable to Rp477.7 billion of non-cash gain in foreign exchange translation.
XL Axiata’s sales revenue grew only 9.8% to Rp5.5 trillion in the period, while infrastructure expenses increased significantly by 31% in the period.
XL Axiata has just completed acquisition of Axis Telecom last month. The acquisition boosted its assets by 50.8% to Rp60.7 trillion, including Rp46 trillion of liabilities.