Ceramic products manufacturer PT Mulia Industrindo Tbk suffered a 33.61% drop in net profit at end of March this year as financial and interest charges steeply jumped 3,327.81%.
Mulia Industrindo posted Rp111.64 billion net profit or Rp84 per share in the first quarter of this year (3M 2011) from Rp168.15 billion or Rp127 per share a year earlier.
The financial and interest charges steeply soared to Rp51.76 billion from Rp1.51 billion. At the operational line, the company's operating profit increased 22.84% to Rp80.99 billion from Rp65.93 billion. Net sales grew 20.82% to Rp942.66 billion from Rp780.19 billion.
Mulia Industrindo is 41.45% owned by PT Eka Gunatama Mandiri, PT Mulia Grahapermai with 25.80% stake, and public shareholders with 32.71%.
Disclosure: No position at the stock mentioned above.
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