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Electronic City Indonesia Q1 profit falls YOY

PT Electronic City Indonesia Tbk said its first-quarter normalized net income came to 11.27 rupiah per share, a decrease of 22.8% from 14.60 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 15.04 billion rupiah, a decline of 12.2% from 17.12 billion rupiah in the year-earlier period.

The normalized profit margin dropped to 3.1% from 3.7% in the year-earlier period.

Total revenue increased 5.4% on an annual basis to 486.22 billion rupiah from 461.29 billion rupiah, and total operating expenses increased 8.1% on an annual basis to 476.10 billion rupiah from 440.28 billion rupiah.

Reported net income fell 27.6% on an annual basis to 18.67 billion rupiah, or 14.00 rupiah per share, from 25.80 billion rupiah, or 22.00 rupiah per share.

As of May 1, US$1 was equivalent to 13,007 rupiah.