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After its IPO, Krida Jaringan generates more revenue

01 October 2019 14:05

JAKARTA - PT Krida Jaringan Nusantara Tbk (KJEN) generated Rp 4.81 billion in revenue in the first half (1H) of 2019, higher than the figure recorded in the same period last year of Rp 3.43 billion. PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), PT XL Axiata Tbk (XCEL), and PT Kopindosat contributed more than 10% of the company's revenue each.

According to the company's financial statements, in 1H 2019, the company managed to record a gross profit of Rp 3.07 billion, up from Rp 2 billion recorded in 1H 2018. However, its operating profit fell from Rp 314.21 million to Rp 15 million due to an increase in operating expenses from Rp 1.69 billion to Rp 3.05 billion. Its pre-tax profit also declined from Rp 312.98 million to Rp 12.60 million.

All of this makes the company lost Rp 48.10 million in 1H 2019. While in 1H 2018, the company generated Rp 238.48 million in net profit.

KJEN made its debut on the capital market on 1 July 2019, by releasing 150 million shares at a price of Rp 202 per share. (LK/AR)

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