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Astra Agro Lestari profit misses consensus by 71.3% in Q1

PT Astra Agro Lestari Tbk said its first-quarter normalized net income was 81.63 rupiah per share, compared with the S&P Capital IQ consensus estimate of 284.71 rupiah per share.

EPS decreased 81.1% year over year from 430.98 rupiah.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 128.54 billion rupiah, a decline of 81.1% from 678.68 billion rupiah in the year-earlier period.

The normalized profit margin dropped to 3.9% from 18.2% in the year-earlier period.

Total revenue declined 13.2% year over year to 3.233 trillion rupiah from 3.726 trillion rupiah, and total operating expenses totaled 2.782 trillion rupiah, compared with 2.796 trillion rupiah in the prior-year period.

Reported net income fell 80.1% from the prior-year period to 156.09 billion rupiah, or 99.12 rupiah per share, from 784.61 billion rupiah, or 498.24 rupiah per share.

As of April 24, US$1 was equivalent to 12,948 rupiah.