State port operator PT Pelabuhan Indonesia (Pelindo) II booked net profit of Rp448.48 billion in the first quarter (Q1) this year, dropped 31.4% from Rp653.45 billion. Revenues increased 18.9% to Rp2.29 trillion but operating profit fell 17.2% to Rp842 billion. The Company reported a 31.6% rise in operating expenses (Rp1.55 trillion) and reported a 59% drop in other income (Rp116.7 billion). Pelindo II has assets of Rp44.3 trillion and liability of Rp32 trillion. It has cash and cash equivalent of Rp15.7 trillion per March 2017.
