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JAKARTA, July 31 (Reuters) - Indonesian auto giant PT Astra International reported on Thursday a 12.4 percent drop in second quarter net profit year-on-year, mainly due to lower foreign exchange gains.
Astra, 35.1 percent owned by Singapore's Cycle & Carriage Ltd , posted a net profit of 957.5 billion rupiah ($112.6 million) in the three months ended June 30, down from 1.1 trillion rupiah in the same quarter last year, according to a Reuters calculation.
In a statement the company said foreign exchange gains in the first half were 288.5 billion rupiah compared to 1.1 trillion in the same period last year. The figure for the second quarter was around one half the amount in the same period last year.
Astra's revenue from ongoing operations in the second quarter grew to eight trillion rupiah against 7.6 trillion a year ago while operating profit rose to 822.9 billion compared to 715.5 billion in the same period.
In the third quarter last year, Astra sold its stake in plywood company PT Sumalindo Lestari Jaya .
In its results, Astra separated income from Sumalindo.
Astra's business ranges from the automotive, finance and the palm oil industry. It is the main dealer of the ubiquitous Toyota cars in Indonesia, but also BMW, Daihatsu and Isuzu.
By the midday break, the currency sensitive stock was down 25 rupiah at 3,800 rupiah while the broader market was down 0.6 percent.
($1=8,500 rupiah)