Lippo Karawaci pockets IDR 268.72 billion in net profit in Q1 2021
JAKARTA – PT Lippo Karawaci Tbk (LKPR) collected a current net profit of IDR 268.72 billion by Q1 2021, contrasting to a loss of IDR 1.95 trillion it suffered in Q1 2020. This surge results from efficiency strategies conducted by the management, enabling them to score an improvement in its operating profit compared to last year.
As quoted from the Financial Report Q1 2021 published Tuesday (15/6), Ketut Budi Wijaya, the President Director of Lippo Karawaci, reveals that the company scores the revenue of IDR 3.40 trillion, increasing from IDR 3.10 trillion. The most significant contributor is the real estate management and service segment, adding IDR 2.55 trillion. The real estate development sector follows with IDR 875.37 billion, and the fund management contributes IDR 15.62 billion.
The said company manages to record an operating profit of IDR 1.02 trillion, skyrocketing from the previous operating loss of IDR 1.48 trillion. This gain results from the efficiency methods, thus only posting other expenses of IDR 340.42 billion, lower than the last period’s other expenses of IDR 2.7 trillion. Additionally, foreign exchange loss significantly decreases to IDR 210.56 billion from IDR 2.39 trillion. (LK/ZH)