Blame it on a forex loss.
Golden-Agri Resources reported that its net profit crashed 83% to $23m (US$17.2m) in the first quarter.
The decline was attributed to a forex loss worth $46.7m (US$35m), compared to a forex gain of $44m (US$33m) recorded in the same period last year.
Low palm oil prices also caused the group's EBITDA to decline 16% year-on-year to $168.1m (US$126m).
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