I

ndonesia's second largest mobile phone operator, PT Indosat (ISAT), will keep booking losses in the second quarter of the year due to continued downward pressure from foreign exchange and depreciation.

Indosat finance director Stefan Carlsson said the operator would not see 'a big change' in its second quarter performance. 'We will not book profits but losses because of depreciation and almost entirely due to the currency,' he said on Tuesday. Indosat recorded Rp 71 billion (US$7.17 million) year-on-year losses in the first quarter largely due to foreign exchange losses and changes in the calculation of depreciation value. The company also has to pay Rp 4 trillion in debts this year, approximately Rp 1.8 billion of which has been paid in the first semester with internal cash.

'The remaining [debts] are due this August,' he further said, adding that the operator would use bank loans to finance the debts.