JAKARTA - The current ratio of PT Inovisi Infracom Tbk (INVS) declined during the third quarter 2017 compared with the same period 2016. While the company's revenue was zero during this period in 2017 compared with same period 2016, its noted Rp 27.06 billion.
Based on the company's financial report in the third quarter 2017, the company's current asset noted Rp 256.20 billion and the current liabilities amounting to Rp 421.50 billion. In the same period 2016, the company's current asset booked Rp 256.20 billion and the company's current liabilities noted Rp 412.64 billion. The current ratio during the period 2017 noted 60.7%, while in the same period 2016 noted 62%.
In third quarter of 2017, the increase of liabilities was supported by rise of the interest rate loan and salary and overtime compared with the same period 2016. The interest rate loan recorded at Rp 27.28 billion and the salary and overtime noted Rp 2.03 billion. While in the same period 2016, the interest rate loan and salary overtime booked Rp 19.77 billion and Rp 687 million, respectively.
Even though the company did not book any revenue, the management maintained the financial's performance. The company's loss for the year booked Rp 26.29 billion or better compared with the same period 2016 its loss for the period noted Rp 92.67 billion. The management maintained the cost of goods sold amounting to Rp 8.90 billion or lower compared with the same period 2016 noted Rp 17.24 billion. (LK)