PT Gozco Plantations Tbk said its normalized net income for the first quarter was a loss of 1.68 rupiah per share, compared with a loss of 1.21 rupiah per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 10.11 billion rupiah, compared with a loss of 7.24 billion rupiah in the year-earlier period.
The normalized profit margin declined to negative 11.2% from negative 8.5% in the year-earlier period.
Total revenue climbed 5.3% year over year to 89.92 billion rupiah from 85.40 billion rupiah, and total operating expenses climbed 6.7% on an annual basis to 103.26 billion rupiah from 96.77 billion rupiah.
Reported net income came to a loss of 10.48 billion rupiah, or a loss of 1.75 rupiah per share, compared to a loss of 8.49 billion rupiah, or a loss of 1.41 rupiah per share, in the year-earlier period.
As of April 29, US$1 was equivalent to 12,900 rupiah.
