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Astra International profit misses consensus by 43.5% in Q2

PT Astra International Tbk said its normalized net income for the second quarter was 73.53 rupiah per share, compared with the S&P Capital IQ consensus estimate of 130.20 rupiah per share.

In the prior-year period, the per-share result came in at a profit of 73.48 rupiah.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.977 trillion rupiah, compared with 2.975 trillion rupiah in the prior-year period.

The normalized profit margin declined to 6.0% from 6.4% in the year-earlier period.

Total revenue increased 6.3% on an annual basis to 49.251 trillion rupiah from 46.321 trillion rupiah, and total operating expenses rose 5.8% year over year to 44.649 trillion rupiah from 42.203 trillion rupiah.

Reported net income increased 6.3% year over year to 4.265 trillion rupiah, or 105.35 rupiah per share, from 4.013 trillion rupiah, or 98.90 rupiah per share.

As of July 27, US$1 was equivalent to 13,318 rupiah.