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Tifico Fiber Indonesia Q2 profit climbs YOY

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Tifico Fiber Indonesia Q2 profit climbs YOY

PT Tifico Fiber Indonesia Tbk said its second-quarter normalized net income was $2.0 million, a rise from $5,720 in the year-earlier period.

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

The normalized profit margin increased to 3.9% from 0.0% in the year-earlier period.

Total revenue grew 7.0% on an annual basis to $50.7 million from $47.4 million, and total operating expenses came to $47.4 million, compared with $47.4 million in the year-earlier period.

Reported net income rose year over year to $4.0 million, or 0 cents per share, from $730,930, or 0 cents per share.