PT Adhi Commuter scored double digit growth as of September 2022
JAKARTA. The performance of PT Adhi Commuter Properti Tbk (ADCP), a property issuer, was seen improving by double digit in the third quarter of 2022. The property segment still reportedly dominated the revenue contribution.
The Financial Report as of September 30, 2022, showed that ADCP scored net revenue of IDR 421.52 billion, shifting 44.12% higher from IDR 292.46 billion seen in the same period in 2021. The property segment generated IDR 308.78 billion of the revenue, also increasing 53.66% year-on-year (yoy). Then, the hotel business brought in another IDR 69.34 billion, proliferating 66.75% yoy, while the revenue from the joint operation segment increased 16.36% to IDR 43.39 billion.
As the revenue increased, ADCP also posted an increase in its cost of revenue, from IDR 226.4 billion to IDR 321.49 billion. Therefore, its gross profit managed to soar 51.52% from IDR 66.01 bilion to IDR 100.02 billion.
Ultimately, ADCP scored a net profit attributable to the parent company of IDR 51.82 billion in Q3 2022, 10.7% yoy higher from IDR 46.81 billion. (AM/ZH)