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Inti Agri Resources Q1 loss widens 26.5% YOY

PT Inti Agri Resources Tbk said its normalized net income for the first quarter came to a loss of 11 Indonesian sen per share, compared with a loss of 9 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 3.64 billion rupiah, compared with a loss of 2.88 billion rupiah in the year-earlier period.

The normalized profit margin fell to negative 86.0% from negative 55.3% in the year-earlier period.

Total revenue fell 18.7% year over year to 4.24 billion rupiah from 5.21 billion rupiah, and total operating expenses increased from the prior-year period to 9.53 billion rupiah from 9.28 billion rupiah.

Reported net income totaled a loss of 3.82 billion rupiah, or a loss of 11 sen per share, compared to a loss of 3.50 billion rupiah, or a loss of 10 sen per share, in the prior-year period.

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