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Gema Grahasarana Q1 profit climbs 27.3% YOY

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Gema Grahasarana Q1 profit climbs 27.3% YOY

PT Gema Grahasarana Tbk said its first-quarter normalized net income amounted to 27.72 rupiah per share, an increase of 27.3% from 21.78 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 8.87 billion rupiah, an increase of 27.3% from 6.97 billion rupiah in the year-earlier period.

The normalized profit margin fell to 4.7% from 4.7% in the year-earlier period.

Total revenue rose 28.5% on an annual basis to 188.82 billion rupiah from 146.99 billion rupiah, and total operating expenses rose 25.1% year over year to 171.28 billion rupiah from 136.95 billion rupiah.

Reported net income increased 26.8% from the prior-year period to 9.30 billion rupiah, or 29.06 rupiah per share, from 7.34 billion rupiah, or 22.92 rupiah per share.

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