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Mayora Indah Q1 profit climbs YOY

PT Mayora Indah Tbk said its normalized net income for the first quarter came to 9.91 rupiah per share, a gain from 4.49 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 221.68 billion rupiah, a gain from 100.45 billion rupiah in the year-earlier period.

The normalized profit margin rose to 6.4% from 2.9% in the year-earlier period.

Total revenue decreased on an annual basis to 3.456 trillion rupiah from 3.498 trillion rupiah, and total operating expenses declined on an annual basis to 3.066 trillion rupiah from 3.144 trillion rupiah.

Reported net income increased from the prior-year period to 272.71 billion rupiah, or 12.20 rupiah per share, from 119.56 billion rupiah, or 5.35 rupiah per share.

As of April 30, US$1 was equivalent to 12,980 rupiah.