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Astra International profit misses consensus by 30.7% in Q2

PT Astra International Tbk said its second-quarter normalized net income was 72.02 rupiah per share, compared with the S&P Capital IQ consensus estimate of 103.86 rupiah per share.

EPS fell 18.6% year over year from 88.48 rupiah.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.916 trillion rupiah, a decrease of 18.6% from 3.582 trillion rupiah in the prior-year period.

The normalized profit margin fell to 6.3% from 6.9% in the year-earlier period.

Total revenue fell 8.5% on an annual basis to 47.318 trillion rupiah from 51.707 trillion rupiah, and total operating expenses declined 7.1% year over year to 42.357 trillion rupiah from 45.606 trillion rupiah.

Reported net income fell 20.3% from the prior-year period to 4.060 trillion rupiah, or 100.29 rupiah per share, from 5.093 trillion rupiah, or 125.80 rupiah per share.

As of July 30, US$1 was equivalent to 13,483 rupiah.