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Tri Banyan Tirta Q3 loss widens 69.2% YOY

PT Tri Banyan Tirta Tbk said its normalized net income for the third quarter came to a loss of 3.66 rupiah per share, compared with a loss of 2.16 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 a loss of 8.00 billion rupiah, compared with a loss of 4.73 billion rupiah in the year-earlier period.

The normalized profit margin declined to negative 11.2% from negative 6.3% in the year-earlier period.

Total revenue decreased year over year to 71.35 billion rupiah from 75.00 billion rupiah, and total operating expenses decreased on an annual basis to 69.87 billion rupiah from 70.92 billion rupiah.

Reported net income totaled a loss of 12.90 billion rupiah, or a loss of 5.90 rupiah per share, compared to a loss of 5.76 billion rupiah, or a loss of 2.64 rupiah per share, in the year-earlier period.

As of Nov. 20, US$1 was equivalent to 13,615 rupiah.