JAKARTA - PT Ratu Prabu Energy Tbk (ARTI) generated Rp 108.93 billion in net income in the first half (1H) of 2019, lower than its record from the same period of last year of Rp 168.47 billion.
Based on the financial statements in the first half of 2019, most of the company's income came from building lease (Rp 35.79 billion, Rp 53.42 billion in 1H 2018), followed by petroleum consulting services (Rp 31.81 billion, from Rp 36.66 billion), oil drilling rig leasing (Rp 25.156 billion, from Rp 36.46 billion ) and other petroleum-related services (Rp.15.15 billion, from Rp 39.99 billion).
The company's income came from its business with several third parties, including PT Sokoria Geothermal Indonesia (Rp 28.44 billion), Conoco Phillips Indonesia (Rp 24.69 billion), PT Pertamina Drilling Services Indonesia (Rp 15.51 billion), Medco E&P Natuna Ltd (Rp 5.73 billion), PT Elnusa Tbk (Rp 5.54 billion), PT Thies Contractor Indonesia (Rp 3.49 billion, and other parties Rp 15.57 billion.
The decline in income also affected the company's financial performance in the first half of this year. In 1H 2019, the company recorded a gross profit of Rp 27.90 billion, much lower than its record in 1H 2018 of Rp 73.69 billion. Also, the company recorded a loss of Rp 23.40 billion, while in 1H 2018, the company recorded a profit of Rp 7.22 billion. (LK/AR)