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Bumitama Agri Q1 profit falls YOY

Bumitama Agri Ltd. said its first-quarter normalized net income amounted to 79.99 rupiah per share, a decline of 40.5% from 134.33 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 140.59 billion rupiah, a decrease of 40.5% from 236.09 billion rupiah in the year-earlier period.

The normalized profit margin dropped to 8.8% from 17.4% in the year-earlier period.

Total revenue fell year over year to 1.334 trillion rupiah from 1.357 trillion rupiah, and total operating expenses climbed on an annual basis to 979.44 billion rupiah from 937.42 billion rupiah.

Reported net income declined 41.0% from the prior-year period to 181.57 billion rupiah, or 103.31 rupiah per share, from 307.84 billion rupiah, or 175.15 rupiah per share.

As of May 11, US$1 was equivalent to 13,146 rupiah.