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Tiga Pilar Sejahtera Food Q3 profit climbs 8.9% YOY

PT Tiga Pilar Sejahtera Food Tbk said its normalized net income for the third quarter came to 14.60 rupiah per share, compared with 14.73 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 46.99 billion rupiah, an increase of 8.9% from 43.15 billion rupiah in the year-earlier period.

The normalized profit margin fell to 3.5% from 3.6% in the year-earlier period.

Total revenue climbed 10.8% on an annual basis to 1.346 trillion rupiah from 1.215 trillion rupiah, and total operating expenses grew 9.6% on an annual basis to 1.173 trillion rupiah from 1.070 trillion rupiah.

Reported net income decreased 20.4% on an annual basis to 58.84 billion rupiah, or 18.28 rupiah per share, from 73.93 billion rupiah, or 25.24 rupiah per share.

As of Nov. 9, US$1 was equivalent to 13,698 rupiah.