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Mustika Ratu Q1 profit climbs YOY

PT Mustika Ratu Tbk said its first-quarter normalized net income came to 2.91 rupiah per share, an increase from 1.14 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 1.25 billion rupiah, a gain from 487.0 million rupiah in the year-earlier period.

The normalized profit margin rose to 1.3% from 0.5% in the year-earlier period.

Total revenue increased 5.2% year over year to 98.68 billion rupiah from 93.77 billion rupiah, and total operating expenses increased from the prior-year period to 96.50 billion rupiah from 92.03 billion rupiah.

Reported net income increased 44.4% from the prior-year period to 1.58 billion rupiah, or 3.69 rupiah per share, from 1.09 billion rupiah, or 2.56 rupiah per share.

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