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Ricky Putra Globalindo Q1 profit falls YOY

PT Ricky Putra Globalindo Tbk said its first-quarter normalized net income came to 4.64 rupiah per share, a decrease of 63.1% from 12.58 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 2.98 billion rupiah, a decrease of 63.1% from 8.07 billion rupiah in the prior-year period.

The normalized profit margin dropped to 1.2% from 2.4% in the year-earlier period.

Total revenue fell 25.9% year over year to 244.85 billion rupiah from 330.31 billion rupiah, and total operating expenses fell 29.2% year over year to 216.30 billion rupiah from 305.66 billion rupiah.

Reported net income declined 77.6% on an annual basis to 2.32 billion rupiah, or 3.62 rupiah per share, from 10.36 billion rupiah, or 16.14 rupiah per share.

As of April 30, US$1 was equivalent to 12,980 rupiah.