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IndoAgri returns to the black in Q3 on higher revenue, forex gain
COMMODITIES player Indofood Agri Resources (IndoAgri) on Friday reversed into the black for the third quarter, thanks to stronger revenue and forex translation gains.
Net profit for the three months ended Sept 30, 2016 stood at 159 billion rupiah (S$16 million), compared to a net loss of 213 billion rupiah from a year ago.
Revenue rose 8.7 per cent to 3.55 trillion rupiah, reflecting a recovery of commodity prices. It also posted a 40.3 billion rupiah gain in forex translation, reversing from a forex translation loss of 322 billion rupiah.