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Nusantara Inti Corpora Q1 profit climbs YOY

PT Nusantara Inti Corpora Tbk said its first-quarter normalized net income came to 25.95 rupiah per share, a gain from 12.61 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 1.96 billion rupiah, an increase from 951.0 million rupiah in the year-earlier period.

The normalized profit margin increased to 5.4% from 4.4% in the year-earlier period.

Total revenue increased 68.2% on an annual basis to 36.44 billion rupiah from 21.66 billion rupiah, and total operating expenses rose 28.1% from the prior-year period to 23.39 billion rupiah from 18.26 billion rupiah.

Reported net income fell 29.9% from the prior-year period to 741.6 million rupiah, or 9.83 rupiah per share, from 1.06 billion rupiah, or 14.02 rupiah per share.

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