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Matahari Department Store profit misses consensus by 35.7% in Q1

PT Matahari Department Store Tbk said its normalized net income for the first quarter was 51.60 rupiah per share, compared with the S&P Capital IQ consensus estimate of 80.23 rupiah per share.

EPS increased 27.1% year over year from 40.59 rupiah.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 150.51 billion rupiah, a gain of 27.1% from 118.41 billion rupiah in the prior-year period.

The normalized profit margin increased to 9.3% from 8.0% in the year-earlier period.

Total revenue grew 9.4% year over year to 1.619 trillion rupiah from 1.480 trillion rupiah, and total operating expenses grew 10.3% year over year to 1.364 trillion rupiah from 1.237 trillion rupiah.

Reported net income increased 50.3% from the prior-year period to 184.97 billion rupiah, or 63.41 rupiah per share, from 123.11 billion rupiah, or 42.20 rupiah per share.

As of April 29, US$1 was equivalent to 12,900 rupiah.