PT Jaya Agra Wattie Tbk said its first-quarter normalized net income amounted to 1.06 rupiah per share, a decrease of 83.3% from 6.32 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 3.99 billion rupiah, a decline of 83.3% from 23.87 billion rupiah in the prior-year period.
The normalized profit margin declined to 3.5% from 11.1% in the year-earlier period.
Total revenue decreased 38.6% on an annual basis to 131.96 billion rupiah from 214.74 billion rupiah, and total operating expenses declined 36.4% year over year to 109.09 billion rupiah from 171.46 billion rupiah.
Reported net income fell 91.3% on an annual basis to 2.63 billion rupiah, or 70 sen per share, from 30.34 billion rupiah, or 8.04 rupiah per share.
As of April 30, US$1 was equivalent to 12,980 rupiah.
