JAKARTA - PT Steady Safe Tbk (SAFE), a bus operator, generated Rp 36.85 billion in net income in the first quarter (Q1) of 2019, higher than its record in the same period of 2018 of Rp 542 million. However, the company still recorded Rp. 1.80 billion of losses in Q1.
Based on the company's financial statements in the first quarter of 2019, most of the company's income came from bus operations (Rp. 36.05 billion) and others (Rp. 802 million). In the same period in 2018, the company only generated Rp. 542 million from bus operations.
In Q1 2019, the company recorded a gross profit of Rp 10.96 billion, higher than Rp 103 million recorded in the first quarter of 2018. The company's operating income was Rp 8.37 billion, better than Rp 1.06 billion in operating losses recorded in Q1 2018. Despite this, the company still recorded Rp 1.80 billion in losses, although it was much better than the record in Q1 2018 (Rp 3.93 billion in operating losses). (LK/AR)