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PT. Mitra Adiperkasa profit misses consensus by 80.7% in Q1

PT. Mitra Adiperkasa Tbk said its normalized net income for the first quarter was 8.55 rupiah per share, compared with the S&P Capital IQ consensus estimate of 44.30 rupiah per share.

EPS decreased 68.0% year over year from 26.74 rupiah.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 14.19 billion rupiah, a decline of 68.0% from 44.38 billion rupiah in the year-earlier period.

The normalized profit margin dropped to 0.5% from 1.7% in the year-earlier period.

Total revenue climbed 10.8% year over year to 2.965 trillion rupiah from 2.675 trillion rupiah, and total operating expenses increased 11.6% from the prior-year period to 2.847 trillion rupiah from 2.551 trillion rupiah.

Reported net income fell 74.0% from the prior-year period to 12.28 billion rupiah, or 7.40 rupiah per share, from 47.16 billion rupiah, or 28.41 rupiah per share.

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