BFI Finance profit plunges 51.88% as costs rise
JAKARTA. PT BFI Finance Tbk's (BFIN) net profit in the first half (1H) of 2020 dropped 51.88% to Rp 332.03 billion due to rising costs.
According to the company's 1H financial report, published by the Indonesia Stock Exchange on Monday (27/7), the multifinance company's revenue in 1H only slightly rose to Rp 2.5 trillion from Rp 2.43 trillion in the same period last year.
The company's costs, which rose 22.56% to Rp 2.01 trillion from Rp 1.64 trillion, significantly affected its profit for the year, which was recorded at Rp 332.03 billion, lower than Rp 690.16 billion in the same period last year. (AM/MS)