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Akasha Wira International Q1 profit climbs 62.0% YOY

PT Akasha Wira International Tbk said its first-quarter normalized net income was 17.15 rupiah per share, an increase of 62.0% from 10.59 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 10.12 billion rupiah, a gain of 62.0% from 6.25 billion rupiah in the year-earlier period.

The normalized profit margin increased to 6.3% from 4.8% in the year-earlier period.

Total revenue grew 24.1% year over year to 160.43 billion rupiah from 129.32 billion rupiah, and total operating expenses grew 32.6% year over year to 146.70 billion rupiah from 110.59 billion rupiah.

Reported net income rose 59.9% on an annual basis to 12.19 billion rupiah, or 20.66 rupiah per share, from 7.62 billion rupiah, or 12.92 rupiah per share.

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