Bumitama Agri Ltd. said its normalized net income for the third quarter came to 89.78 rupiah per share, a decline of 31.7% from 131.47 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 157.77 billion rupiah, a decrease of 31.7% from 231.07 billion rupiah in the year-earlier period.

The normalized profit margin declined to 10.6% from 16.9% in the year-earlier period.

Total revenue fell 13.7% on an annual basis to 1.179 trillion rupiah from 1.366 trillion rupiah, and total operating expenses came to 871.20 billion rupiah, compared with 876.86 billion rupiah in the year-earlier period.

Reported net income declined 30.0% year over year to 199.77 billion rupiah, or 113.68 rupiah per share, from 285.41 billion rupiah, or 162.39 rupiah per share.

As of Nov. 11, US$1 was equivalent to 13,560 rupiah.