Astra Profit Falls as Palm-Oil Prices Offset Toyota Sales
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PT Astra International, Indonesia’s biggest automotive retailer, posted a 6.3 percent drop in third-quarter net income as rising car sales failed to offset declines in its heavy equipment and palm oil businesses.
Net income in the three months to Sept. 30 fell to 4.68 trillion rupiah ($415 million) from 4.99 trillion rupiah a year earlier, beating the median estimate for 4.3 trillion rupiah of three analysts surveyed by Bloomberg. The earnings were derived by subtracting first-half figures from nine-month results, which Astra announced today.