PT Bakrie Sumatera Plantations Tbk said its first-quarter normalized net income amounted to a loss of 263.65 rupiah per share, compared with 167.51 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 a loss of 361.74 billion rupiah, compared with income of 229.83 billion rupiah in the prior-year period.
The normalized profit margin declined to negative 70.8% from 34.9% in the year-earlier period.
Total revenue decreased 22.5% on an annual basis to 511.12 billion rupiah from 659.21 billion rupiah, and total operating expenses fell 9.9% year over year to 490.20 billion rupiah from 544.08 billion rupiah.
Reported net income totaled a loss of 478.06 billion rupiah, or a loss of 348.43 rupiah per share, compared to income of 296.52 billion rupiah, or 216.12 rupiah per share, in the year-earlier period.
As of April 30, US$1 was equivalent to 12,980 rupiah.
