JAKARTA - PT Mulia Industrindo Tbk (MLIA), a manufacturer of glass and ceramic products, lost Rp 22.93 billion in the first quarter of 2020, mainly caused by foreign exchange losses. In the same period last year, MLIA booked net profit of Rp 55.32 billion.
As quoted from the company's financial statements published on Tuesday (19/5), the company's sales were quite stable at of Rp 1 trillion. However, an increase in the cost of goods sold from Rp 755.40 billion to Rp 789.79 billion caused the company's gross profit to fell from Rp 254.45 billion to Rp 215.79 billion.
The company's sales consisted of sales to third parties (Rp 999.23 billion) and related parties (Rp 6.49 billion). (LK/AR)