RIGS’s profit soared 26.35% despite only slight increase in revenue

JAKARTA. PT Rig Tenders Indonesia Tbk (RIGS) booked net profit of IDR 78.97 billion in the first half (H1) of 2024, up 26.35% year-on-year (yoy) from the same semester last year.

In fact, in terms of top-line, RIGS’s revenue only climbed a shy of 1.84% yoy to IDR 347.98 billion in H1 2024. In the same period last year, its revenue was only IDR 341.70 billion.

For the record, RIGS manages two primary business lines: coal transportation and offshore support vessels. However, in H1 2024, RIGS only operated its coal transportation line.

RIGS’s total assets were recorded at IDR 774.12 billion, up 10.81% yoy, while total equity clocked up to IDR 758.2 billion. (KR/ZH)