Property firm PT Bakrieland Development posted a net profit of 68.54 billion rupiah ($6 million) in its first quarter, down 78 percent from 313.32 billion rupiah a year earlier, the company said in a statement.
The drop came as revenue fell 41 percent to 664.69 billion rupiah. Sales of land, houses, and apartments fell 45 percent to 516.46 billion rupiah. (Kontan)
Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 11,510.0000 Rupiahs) (Compiled by Jakarta Newsroom; Editing by Prateek Chatterjee)