IDPR generated less profit in semester I 2019 despite higher revenue

17 July 2019 12:58

JAKARTA - Despite the fact that  PT Indonesia Pondasi Raya Tbk (IDPR) generated more revenue year after year, its net profit actually declined.

In the first semester of 2019, the company generated Rp 429.89 billion in revenue, higher than Rp 363.27 billion recorded in the same period in 2018.

Based on the company's financial statement in the first semester of 2019, the largest contributor to the revenue sourced from construction revenue consisted of foundation at Rp 306.44 billion, retaining wall at Rp 11.59 billion, and structural of Rp 43.08 billion. While the sales revenue consisted of the pile at Rp 19.49 billion and the precast wall of Rp 49.28 billion.

Despite this,  the company only managed to record Rp 66.09 billion in gross profit in the first half of 2019, down from Rp. 87.40 billion recorded in the same period in 2018. The company's operating profit also declined quite significantly, from Rp 20.96 billion recorded in the first semester of 2018 to Rp 6.15 billion. The net profit at Rp 136 million, decreased from Rp 16.27 billion. Total comprehensive income for the year at Rp 2.05 billion, suffered from Rp 21.15 billion. (LK/AR)

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