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Evergreen Invesco Q1 profit climbs 91.5% YOY

PT Evergreen Invesco Tbk said its first-quarter normalized net income was 32 Indonesian sen per share, an increase of 91.5% from 17 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.52 billion rupiah, an increase of 91.5% from 792.5 million rupiah in the prior-year period.

The normalized profit margin climbed to 3.4% from 2.1% in the year-earlier period.

Total revenue grew 16.5% year over year to 44.36 billion rupiah from 38.09 billion rupiah, and total operating expenses fell from the prior-year period to 33.43 billion rupiah from 34.43 billion rupiah.

Reported net income decreased 61.9% year over year to 133.9 million rupiah, or 3 sen per share, from 351.0 million rupiah, or 7 sen per share.

As of April 29, US$1 was equivalent to 12,900 rupiah.