PT Pembangunan Graha Lestari Indah Tbk said its normalized net income for the fourth quarter came to 1.03 rupiah per share, a gain from 16 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 502.6 million rupiah, an increase from 78.4 million rupiah in the year-earlier period.

The normalized profit margin rose to 7.4% from 1.6% in the year-earlier period.

Total revenue grew 37.6% year over year to 6.83 billion rupiah from 4.96 billion rupiah, and total operating expenses rose 39.3% year over year to 6.99 billion rupiah from 5.02 billion rupiah.

Reported net income grew year over year to 495.1 million rupiah, or 1.01 rupiah per share, from 148.9 million rupiah, or 31 sen per share.

For the year, the company's normalized net income totaled 1.33 rupiah per share, an increase from 51 sen per share in the prior year.

Normalized net income was 648.0 million rupiah, a rise from 250.1 million rupiah in the prior year.

Full-year total revenue increased 26.6% year over year to 24.46 billion rupiah from 19.33 billion rupiah, and total operating expenses grew 25.9% year over year to 24.10 billion rupiah from 19.14 billion rupiah.

The company said reported net income increased 56.3% on an annual basis to 735.4 million rupiah, or 1.51 rupiah per share, in the full year, from 470.5 million rupiah, or 96 sen per share.

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