JAKARTA - PT Surya Toto Indonesia Tbk (TOTO) recorded 40.45% profit growth in Q1 2020, rising from Rp 41.17 billion in Q1 2019 to Rp 57.82 billion, although suffering a 11.86% drop in sales, from Rp 547.90 billion in Q1 2019 to Rp 482.90 billion in Q1 2020.
However, TOTO booked 13.48% decrease in costs of goods sold, from Rp 444.51 billion in Q1 2019 to Rp 384.58 billion in Q1 2020 and a sharp 820.75% increase in other income, rising from Rp 2.53 billion in Q1 2019 to Rp 23.25 billion in Q1 2020, helped by gain from foreign exchange that rose more than 75-fold, or precisely 7539.45%, from Rp 256.23 million in Q1 2019 to Rp 19.56 billion in Q1 2020.
Alternatively, the financial position of the company in Q1 2020 are as follows; assets increased 15.55% to Rp 3.37 trillion, liabilities rose 39.83% to Rp 1.39 trillion, and equity rose 3.01% to Rp 1.98 trillion. (ARM/AC)