PT Bukit Uluwatu Villa Tbk said its normalized net income for the fourth quarter amounted to a loss of 15.28 rupiah per share, compared with a loss of 4.95 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 50.45 billion rupiah, compared with a loss of 16.86 billion rupiah in the year-earlier period.

The normalized profit margin fell to negative 93.6% from negative 31.4% in the year-earlier period.

Total revenue totaled 53.92 billion rupiah, compared with 53.65 billion rupiah in the year-earlier period, and total operating expenses climbed 7.6% from the prior-year period to 71.99 billion rupiah from 66.93 billion rupiah.

Reported net income came to 5.90 billion rupiah, or 1.79 rupiah per share, compared to a loss of 27.12 billion rupiah, or a loss of 7.96 rupiah per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 18.88 rupiah per share, compared with a loss of 7.38 rupiah per share in the prior year.

Normalized net income was a loss of 59.42 billion rupiah, compared with a loss of 22.84 billion rupiah in the prior year.

Full-year total revenue grew 19.0% from the prior-year period to 236.71 billion rupiah from 198.93 billion rupiah, and total operating expenses grew 17.9% year over year to 240.62 billion rupiah from 204.08 billion rupiah.

The company said reported net income came to a loss of 10.69 billion rupiah, or a loss of 3.40 rupiah per share, in the full year, compared with a loss of 39.09 billion rupiah, or a loss of 12.63 rupiah per share, the prior year.

As of March 31, US$1 was equivalent to 13,318 rupiah.