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Martina Berto Q1 profit falls YOY

PT Martina Berto Tbk said its first-quarter normalized net income came to 2.20 rupiah per share, compared with 2.22 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 2.35 billion rupiah, compared with 2.37 billion rupiah in the prior-year period.

The normalized profit margin dropped to 1.3% from 1.7% in the year-earlier period.

Total revenue increased 24.7% on an annual basis to 175.19 billion rupiah from 140.45 billion rupiah, and total operating expenses rose 24.8% from the prior-year period to 170.33 billion rupiah from 136.50 billion rupiah.

Reported net income increased year over year to 2.58 billion rupiah, or 2.41 rupiah per share, from 2.50 billion rupiah, or 2.33 rupiah per share.

As of April 28, US$1 was equivalent to 12,935 rupiah.