JAKARTA. PT Paramita Bangun Sarana Tbk (PBSA) 's net profit fell dramatically from Rp 47.44 billion in the first semester of last year to Rp 4.7 billion in the first semester of this year.
The company's operating income in the construction sector grew by 18.35 year on year (YoY) during the first semester of this year. By the end of June, PBSA has recorded operating income of Rp 220.22 billion, while in the same period last year, it was only Rp 186.07 billion.
According to its mid-year financial statements, there are 2 new companies that support PBSA's revenue growth, PT Ivo Mas Tunggal, which contributed Rp 39.13 billion, and PT Ecoolis Jaya Indonesia (Rp 25.71 billion).
Despite its growing revenue, PBSA's cost of revenue increased by 29.79% from Rp 141.52 billion to Rp 183.24 billion. In addition, the company's general and administrative expenses also rose in the first half of this year by 14.29% to Rp 24.76 billion. (KR/AR)