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Smartfren Telecom Q1 loss narrows YOY

PT Smartfren Telecom Tbk said its first-quarter normalized net income came to a loss of 2.16 rupiah per share, compared with a loss of 20.69 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 a loss of 240.77 billion rupiah, compared with a loss of 444.13 billion rupiah in the prior-year period.

The normalized profit margin increased to negative 32.0% from negative 59.3% in the year-earlier period.

Total revenue came to 751.89 billion rupiah, compared with 748.32 billion rupiah in the prior-year period, and total operating expenses rose 25.6% from the prior-year period to 1.272 trillion rupiah from 1.012 trillion rupiah.

Reported net income totaled a loss of 265.96 billion rupiah, or a loss of 2.39 rupiah per share, compared to a loss of 551.42 billion rupiah, or a loss of 25.69 rupiah per share, in the year-earlier period.

As of April 29, US$1 was equivalent to 13,165 rupiah.