PT Hotel Mandarine Regency Tbk said its first-quarter normalized net income was a loss of 1.14 rupiah per share, compared with a loss of 65 sen per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 2.59 billion rupiah, compared with a loss of 1.49 billion rupiah in the year-earlier period.
The normalized profit margin dropped to negative 23.1% from negative 12.8% in the year-earlier period.
Total revenue decreased on an annual basis to 11.21 billion rupiah from 11.59 billion rupiah, and total operating expenses increased 12.6% on an annual basis to 14.54 billion rupiah from 12.92 billion rupiah.
Reported net income came to a loss of 4.10 billion rupiah, or a loss of 1.81 rupiah per share, compared to a loss of 2.14 billion rupiah, or a loss of 94 sen per share, in the year-earlier period.
As of April 29, US$1 was equivalent to 12,900 rupiah.
