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Multipolar swings to loss in Q2

PT Multipolar Tbk said its second-quarter normalized net income amounted to a loss of 9.22 rupiah per share, compared with 5.55 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 a loss of 92.81 billion rupiah, compared with income of 55.87 billion rupiah in the year-earlier period.

The normalized profit margin declined to negative 2.4% from 1.4% in the year-earlier period.

Total revenue increased 12.6% on an annual basis to 4.565 trillion rupiah from 4.054 trillion rupiah, and total operating expenses increased 16.1% from the prior-year period to 4.709 trillion rupiah from 4.057 trillion rupiah.

Reported net income totaled a loss of 192.69 billion rupiah, or a loss of 19.15 rupiah per share, compared to income of 51.95 billion rupiah, or 5.16 rupiah per share, in the year-earlier period.

As of Aug. 5, US$1 was equivalent to 13,530 rupiah.