15/05/2014 (Reuters) - Golden Agri-Resources Ltd , Indonesia's largest palm oil firm, said its net profit for the quarter ended March 31 dropped 8 percent on the year, as lower contributions from downstream businesses more than offset the boost from higher palm oil prices.

Golden Agri, controlled by Indonesia's billionaire Widjaja family, reported a net profit of $103.9 million, down from $112.8 million a year earlier. However, the company's revenue jumped a third on the year, boosted by improved crude palm oil prices, the company said in a statement.