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Multi Indocitra Q1 profit falls YOY

PT Multi Indocitra Tbk said its normalized net income for the first quarter was 10.33 rupiah per share, a decrease of 16.2% from 12.33 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 6.16 billion rupiah, a decrease of 16.2% from 7.36 billion rupiah in the year-earlier period.

The normalized profit margin dropped to 4.9% from 6.6% in the year-earlier period.

Total revenue rose 12.0% year over year to 124.54 billion rupiah from 111.24 billion rupiah, and total operating expenses climbed 14.5% on an annual basis to 111.91 billion rupiah from 97.74 billion rupiah.

Reported net income fell 16.9% on an annual basis to 8.15 billion rupiah, or 13.67 rupiah per share, from 9.82 billion rupiah, or 16.46 rupiah per share.

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