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Sekar Bumi Q1 profit falls YOY

PT Sekar Bumi Tbk said its normalized net income for the first quarter was 5.12 rupiah per share, a decline of 43.9% from 9.12 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 4.79 billion rupiah, a decrease of 39.3% from 7.89 billion rupiah in the prior-year period.

The normalized profit margin declined to 1.4% from 2.1% in the year-earlier period.

Total revenue declined 20.0% year over year to 302.54 billion rupiah from 377.95 billion rupiah, and total operating expenses declined 15.2% on an annual basis to 296.60 billion rupiah from 349.78 billion rupiah.

Reported net income fell 37.0% from the prior-year period to 6.15 billion rupiah, or 6.57 rupiah per share, from 9.76 billion rupiah, or 11.27 rupiah per share.

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