Indonesia Pondasi Raya recorded a net loss of Rp 8.85 billion in 2019
JAKARTA. PT Indonesia Pondasi Raya Tbk (IDPR) recorded a net loss of Rp 8.85 billion in 2019, due to postponement in a number of projects and increased finance costs. This occurred despite the fact that the company's revenue grew by 4.1% to Rp 958.46 billion.
Corporate Secretary of IDPR, Dwijanto, said that the decline in profit was caused by several factors, one of which was the postponement of several projects.
According to Dwijanto, in addition to that, the company's expenses also rose, including finance cost (to Rp 15.31 billion) and other expenses (to Rp 1.8 billion).
On the other hand an increase in revenue of 4.1% to Rp958.46 billion from Rp920.07 billion did not succeed in making the bottom line positive. (AM)