JAKARTA. PT Express Transindo Utama (TAXI) managed to reduce its net loss in 2019, following the repayment of bank loans and a portion of its bonds.
Based on the company's financial report released on Wednesday (1/4), the transportation company recorded a net loss of Rp 275.5 billion, far lower than its record in 2018 (Rp 836.37 billion).
The lower figure is caused by the fact that the company managed to reduce both its short-term and long-term debt. Overall, TAXI's debt in 2019 was valued at Rp 933.32 billion, 49.5% lower than the figure recorded in 2018 of Rp 1.85 trillion.
TAXI's total short-term debt in 2019 was recorded at Rp 720.97 billion, while its long-term debt was recorded at Rp 212.35 billion.
However, TAXI's revenue in 2019 fell from Rp 241.66 billion recorded in 2018 to Rp 134.25 billion. (AM/AR)