PT Gudang Garam Tbk said its first-quarter normalized net income came to 554.93 rupiah per share, a decrease of 9.4% from 612.49 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 1.068 trillion rupiah, a decrease of 9.4% from 1.178 trillion rupiah in the year-earlier period.
The normalized profit margin fell to 6.7% from 7.5% in the year-earlier period.
Total revenue grew on an annual basis to 15.984 trillion rupiah from 15.670 trillion rupiah, and total operating expenses grew year over year to 13.887 trillion rupiah from 13.503 trillion rupiah.
Reported net income decreased 9.5% from the prior-year period to 1.282 trillion rupiah, or 666.27 rupiah per share, from 1.417 trillion rupiah, or 736.58 rupiah per share.
As of April 30, US$1 was equivalent to 12,980 rupiah.
