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Duta Intidaya swings to loss in Q4

PT Duta Intidaya Tbk said its fourth-quarter normalized net income amounted to a loss of 3.22 rupiah per share, compared with 23 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 6.69 billion rupiah, compared with income of 695.9 million rupiah in the year-earlier period.

The normalized profit margin declined to negative 11.0% from 1.3% in the year-earlier period.

Total revenue increased 16.5% year over year to 61.09 billion rupiah from 52.42 billion rupiah, and total operating expenses rose 44.9% from the prior-year period to 70.80 billion rupiah from 48.85 billion rupiah.

Reported net income came to a loss of 12.60 billion rupiah, or a loss of 6.06 rupiah per share, compared to a loss of 2.40 billion rupiah, or a loss of 78 sen per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 7.19 rupiah per share, compared with a loss of 12.04 rupiah per share in the prior year.

Normalized net income was a loss of 13.22 billion rupiah, compared with a loss of 19.27 billion rupiah in the prior year.

Full-year total revenue rose 23.4% on an annual basis to 237.50 billion rupiah from 192.42 billion rupiah, and total operating expenses increased 20.9% on an annual basis to 256.93 billion rupiah from 212.50 billion rupiah.

The company said reported net income totaled a loss of 24.13 billion rupiah, or a loss of 13.12 rupiah per share, in the full year, compared with a loss of 35.25 billion rupiah, or a loss of 22.03 rupiah per share, the prior year.

As of March 29, US$1 was equivalent to 13,312 rupiah.