PT Pembangunan Graha Lestari Indah Tbk said its first-quarter normalized net income amounted to 12 Indonesian sen per share, a decline of 81.6% from 63 sen per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 56.4 million rupiah, a decrease of 81.6% from 306.6 million rupiah in the prior-year period.
The normalized profit margin fell to 1.3% from 9.3% in the year-earlier period.
Total revenue rose 26.5% on an annual basis to 4.18 billion rupiah from 3.31 billion rupiah, and total operating expenses climbed 45.6% from the prior-year period to 4.26 billion rupiah from 2.92 billion rupiah.
Reported net income fell 77.9% year over year to 97.7 million rupiah, or 20 sen per share, from 442.3 million rupiah, or 91 sen per share.
As of May 5, US$1 was equivalent to 13,035 rupiah.
