PT Salim Ivomas Pratama Tbk said its first-quarter normalized net income came to 3.05 rupiah per share, a decrease of 65.7% from 8.88 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 47.25 billion rupiah, a decrease of 66.0% from 138.79 billion rupiah in the prior-year period.
The normalized profit margin declined to 1.8% from 4.4% in the year-earlier period.
Total revenue decreased 16.1% on an annual basis to 2.659 trillion rupiah from 3.171 trillion rupiah, and total operating expenses decreased 14.2% on an annual basis to 2.324 trillion rupiah from 2.707 trillion rupiah.
Reported net income fell 75.1% from the prior-year period to 46.75 billion rupiah, or 3.02 rupiah per share, from 187.60 billion rupiah, or 12.00 rupiah per share.
As of April 30, US$1 was equivalent to 12,980 rupiah.
