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Inter Delta swings to profit in Q4

PT Inter Delta Tbk said its normalized net income for the fourth quarter came to 1.29 rupiah per share, compared with a loss of 44 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 766.2 million rupiah, compared with a loss of 261.3 million rupiah in the prior-year period.

The normalized profit margin climbed to 3.0% from negative 0.9% in the year-earlier period.

Total revenue fell 7.6% year over year to 25.88 billion rupiah from 28.01 billion rupiah, and total operating expenses declined 16.9% year over year to 23.66 billion rupiah from 28.46 billion rupiah.

Reported net income decreased 38.2% from the prior-year period to 938.4 million rupiah, or 1.59 rupiah per share, from 1.52 billion rupiah, or 2.57 rupiah per share.

For the year, the company's normalized net income totaled 3.59 rupiah per share, a gain of 45.0% from 2.48 rupiah per share in the prior year.

Normalized net income was 2.13 billion rupiah, a gain of 45.0% from 1.47 billion rupiah in the prior year.

Full-year total revenue fell 8.5% year over year to 85.86 billion rupiah from 93.82 billion rupiah, and total operating expenses declined 10.8% year over year to 81.09 billion rupiah from 90.92 billion rupiah.

The company said reported net income fell 29.2% on an annual basis to 2.52 billion rupiah, or 4.26 rupiah per share, in the full year, from 3.56 billion rupiah, or 6.01 rupiah per share.

As of March 30, US$1 was equivalent to 13,222.50 rupiah.