JAKARTA - PT Surya Citra Media Tbk (SCMA) posted a net profit drop of 22.11% in the first quarter (Q1) of 2020 to Rp 311.52 billion from Rp 399.95 billion in the same period last year.
According to SCMA's Q1 financial report published on Monday (4/5), the company's advertising revenue grew 3.22% from Rp 1.47 trillion to Rp 1.51 trillion, but its other income plunged 42.28% from Rp 150.16 billion to Rp 86.66 billion.
In addition, the company's operating expenses surged 14.47% from Rp 269.01 billion on March 31, 2019 to Rp 307.96 billion on March 31, 2020, particularly due to the employee salary and welfare post which rose 20.26% from Rp 149.69 billion to Rp 180.02 billion. The promotion post also rose sharply by 95.90% or Rp 13.89 billion. (ARM/MS)