JAKARTA - PT Pudjiadi and Sons Tbk (PSNE), a company engaged in the hospitality industry, recorded net loss of Rp 16.56 billion in Q1 2020, 84.4% more than its net loss in Q1 2019 of Rp 8.98 billion.
According to the company's financial statements, the company's revenue actually rose to Rp 36.98 billion. However, the growth was insignificant, considering that it occurred on hotels with small profit margins.
At the same time, the company's expenses also rose to Rp 21.1 billion, which reduced the company's gross profit by 4.83% to Rp 15.88 billion. (ARM/AR)