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Eratex Djaja Q2 profit falls YOY

PT Eratex Djaja Tbk said its second-quarter normalized net income was $313,800, a decline of 55.5% from $704,990 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 1.9% from 4.4% in the year-earlier period.

Total revenue rose 6.2% year over year to $17.0 million from $16.0 million, and total operating expenses rose 13.7% on an annual basis to $16.6 million from $14.6 million.

Reported net income fell 71.8% from the prior-year period to $322,360, or 0 cents per share, from $1.1 million, or 0 cents per share.