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Prima Alloy Steel Universal Q1 profit falls YOY

PT. Prima Alloy Steel Universal Tbk said its first-quarter normalized net income amounted to 6.17 rupiah per share, a decrease of 5.6% from 6.53 rupiah per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.32 billion rupiah, a decrease of 5.6% from 4.58 billion rupiah in the year-earlier period.

The normalized profit margin declined to 2.7% from 3.9% in the year-earlier period.

Total revenue grew 33.1% year over year to 157.55 billion rupiah from 118.33 billion rupiah, and total operating expenses grew 31.1% year over year to 137.43 billion rupiah from 104.87 billion rupiah.

Reported net income decreased 9.9% from the prior-year period to 5.04 billion rupiah, or 7.19 rupiah per share, from 5.60 billion rupiah, or 7.98 rupiah per share.

As of April 30, US$1 was equivalent to 12,980 rupiah.