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Multistrada Arah Sarana Q2 loss widens 31.4% YOY

PT Multistrada Arah Sarana Tbk said its second-quarter normalized net income was a loss of $1.3 million, compared with a loss of $1.0 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 2.0% from negative 1.3% in the year-earlier period.

Total revenue decreased 14.6% year over year to $65.3 million from $76.4 million, and total operating expenses decreased 10.3% year over year to $65.8 million from $73.4 million.

Reported net income came to a loss of $2.0 million, or a loss of 0 cents per share, compared to a loss of $1.1 million, or a loss of 0 cents per share, in the prior-year period.