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Multistrada Arah Sarana Q3 loss narrows YOY

PT Multistrada Arah Sarana Tbk said its normalized net income for the third quarter came to a loss of $1.3 million, compared with a loss of $7.9 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to negative 2.4% from negative 15.0% in the year-earlier period.

Total revenue climbed year over year to $53.6 million from $53.0 million, and total operating expenses decreased 7.2% year over year to $55.1 million from $59.4 million.

Reported net income totaled a loss of $1.5 million, or a loss of 0 cents per share, compared to a loss of $12.6 million, or a loss of 0 cents per share, in the year-earlier period.