JAKARTA. PT Media Nusantara Citra Tbk (MNCN) posted a Rp 1.37 trillion net profit from January to September (9M) 2020, down 17.54% year on year (yoy).
MNCN's net profit in 9M-2020 was supported by Rp 5.96 trillion, down 4.93% yoy.
In a recently published financial report, MNCN said its revenue in 9M-2020 was supported by advertising, which serves as its core business. Revenue from advertising during the period was recorded at Rp 5.52 trillion, 93% of the company's total revenue.
MNCN's management also managed to lower its operating expenses during the period by 3.18% yoy to Rp 2.31 trillion.
Currently PT Global Mediacom Tbk (BMTR) owns a 53.37% stake in MNCN, while the remaining 46.56% is owned by public investors with ownership below 5% each. (KR/MS)