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Jakarta Setiabudi Q1 profit climbs 12.8% YOY

PT Jakarta Setiabudi Internasional Tbk said its normalized net income for the first quarter amounted to 15.37 rupiah per share, an increase of 12.8% from 13.63 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 35.63 billion rupiah, an increase of 12.8% from 31.59 billion rupiah in the prior-year period.

The normalized profit margin climbed to 13.2% from 10.6% in the year-earlier period.

Total revenue decreased 5.6% on an annual basis to 281.95 billion rupiah from 298.80 billion rupiah, and total operating expenses totaled 215.20 billion rupiah, compared with 214.62 billion rupiah in the prior-year period.

Reported net income declined 13.4% year over year to 50.65 billion rupiah, or 21.84 rupiah per share, from 58.50 billion rupiah, or 25.23 rupiah per share.

As of April 30, US$1 was equivalent to 12,980 rupiah.