JAKARTA - Although the revenue of PT Ratu Prabu Tbk (ARTI) fell in the first quarter of 2019, the company's net profit increased annually.
For information, Ratu Prabu's revenue at the end of March was recorded at Rp 67.70 billion, down by 22.63% from last year's of Rp 87.51 billion. Contributions to revenues came from renting rigs and oil equipment amounting to Rp 22.67 billion, oil consultancy services Rp 21.44 billion and building leases of Rp 20.07 billion.
Although the revenue fell, Ratu Prabu's net profit increased in the first quarter, supported by other income posts of Rp 12.96 billion. Thus, the company's net profit at the end of the first quarter was recorded at Rp 3.13 billion. This figure increased 72.44% compared to the previous year amounting to Rp 1.81 billion.
As of March 2019, Ratu Prabu allocated cash for operations of Rp 85.79 billion, up from the previous period of Rp 8.08 billion. (LM)