PT Nippon Indosari Corpindo Tbk said its fourth-quarter normalized net income came to 15.06 rupiah per share, an increase of 59.3% from 9.45 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 76.27 billion rupiah, an increase of 59.4% from 47.86 billion rupiah in the year-earlier period.

The normalized profit margin increased to 12.6% from 9.2% in the year-earlier period.

Total revenue climbed 16.5% on an annual basis to 605.05 billion rupiah from 519.36 billion rupiah, and total operating expenses climbed 8.5% year over year to 457.45 billion rupiah from 421.77 billion rupiah.

Reported net income rose 36.7% on an annual basis to 77.86 billion rupiah, or 15.38 rupiah per share, from 56.97 billion rupiah, or 11.26 rupiah per share.

For the year, the company's normalized net income totaled 46.81 rupiah per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 47.81 rupiah.

EPS rose 49.7% from 31.27 rupiah in the prior year.

Normalized net income was 236.93 billion rupiah, a gain of 49.7% from 158.28 billion rupiah in the prior year.

Full-year total revenue rose 15.6% from the prior-year period to 2.175 trillion rupiah from 1.880 trillion rupiah, and total operating expenses increased 8.7% on an annual basis to 1.724 trillion rupiah from 1.585 trillion rupiah.

The company said reported net income rose 43.4% on an annual basis to 270.54 billion rupiah, or 53.45 rupiah per share, in the full year, from 188.65 billion rupiah, or 37.27 rupiah per share.

As of March 30, US$1 was equivalent to 13,222.50 rupiah.