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Multipolar Q1 loss widens YOY

PT Multipolar Tbk said its first-quarter normalized net income was a loss of 19.32 rupiah per share, compared with a loss of 29 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 a loss of 194.44 billion rupiah, compared with a loss of 2.96 billion rupiah in the prior-year period.

The normalized profit margin dropped to negative 4.5% from negative 0.1% in the year-earlier period.

Total revenue increased 15.6% year over year to 4.366 trillion rupiah from 3.776 trillion rupiah, and total operating expenses rose 19.6% from the prior-year period to 4.580 trillion rupiah from 3.829 trillion rupiah.

Reported net income totaled a loss of 254.49 billion rupiah, or a loss of 25.29 rupiah per share, compared to income of 10.58 billion rupiah, or 1.05 rupiah per share, in the year-earlier period.

As of May 18, US$1 was equivalent to 13,167 rupiah.