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Distribusi Voucher Nusantara profit plummets 58% in 1H

28 July 2020 11:37

JAKARTA. PT Distribusi Voucher Nusantara Tbk's (DIVA) net profit plunged 58% to Rp 16.92 billion in the first half (1H) of 2020 from Rp 40.05 billion in the first half of last year.

In terms of sales, the electronic voucher and digital payment distributor posted 4.71% growth to Rp 1.78 trillion in 1H. In the same period last year, the company's net sales only reached Rp 1.7 trillion.

According to the company's financial report, published on Tuesday (28/7), DIVA's net profit plunge was caused by several factors including cost of goods sold which rose 4.85%, operational costs which rose 6.6%, and lower revenue outside the company's core business.

Throughout 1H, DIVA's revenue outside its core business was recorded at Rp 3.03 billion, down 87.23% from Rp 45.28 billion in the same period last year. (KR/MS)

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