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Anabatic's net profit fell by 56.11% YoY due to its investment in fintech business

28 November 2019 13:54

JAKARTA. PT Anabatic Technologies Tbk (ATIC) announced that its net profit declined by 56.11% YoY in Q3 2019 from Rp 16.95 billion to Rp 7.44 billion. 

Based on the company's presentation, the decline was caused by the investment portfolio in the fintech business that is being run by the company. "At present (the fintech business) is still in the stage of products and service network development," explained ATIC management in a public expose on Thursday (28/11) today.

In terms of sales revenue, ATIC obtained Rp 3.95 trillion in Q3 2019, 6% higher than its record in Q3 2018 of Rp 3.73 trillion. Meanwhile, the company's cost of goods sold rose by 5% to Rp 3.32 trillion, from Rp 3.16 trillion recorded in Q3 2018.

Until the end of this year, ATIC is targeting its total sales revenue to reach Rp 6.1 trillion. (KR/AR)

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