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Visi Telekomunikasi Infrastruktur swings to loss in Q1

PT Visi Telekomunikasi Infrastruktur Tbk said its first-quarter normalized net income was a loss of 3.39 rupiah per share, compared with 2.71 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 970.4 million rupiah, compared with income of 774.3 million rupiah in the year-earlier period.

Total revenue declined 7.7% year over year to 11.63 billion rupiah from 12.60 billion rupiah, and total operating expenses increased 13.5% from the prior-year period to 14.12 billion rupiah from 12.44 billion rupiah.

Reported net income came to a loss of 1.75 billion rupiah, or a loss of 6.11 rupiah per share, compared to income of 742.0 million rupiah, or 2.59 rupiah per share, in the year-earlier period.

As of May 2, US$1 was equivalent to 13,157.50 rupiah.