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Kedaung Indah Can Q1 profit climbs YOY

PT Kedaung Indah Can Tbk said its normalized net income for the first quarter was 6.41 rupiah per share, a gain from 6.34 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 1.77 billion rupiah, a gain from 1.75 billion rupiah in the year-earlier period.

The normalized profit margin rose to 7.7% from 6.6% in the year-earlier period.

Total revenue fell 13.2% on an annual basis to 23.06 billion rupiah from 26.57 billion rupiah, and total operating expenses decreased 12.4% year over year to 21.09 billion rupiah from 24.09 billion rupiah.

Reported net income rose on an annual basis to 2.12 billion rupiah, or 7.68 rupiah per share, from 2.08 billion rupiah, or 7.53 rupiah per share.

As of April 27, US$1 was equivalent to 12,960 rupiah.