Indospring's revenue fell more than 26% by September 2020
INDS - PT. Indospring Tbk
JAKARTA. PT Indospring Tbk's revenue fell 26.34% by September 2020 to IDR 1.16 trillion, due to the drop in springs sales.
In an information disclosure at Indonesia Stock Exchange on Friday (27/11/2020), it was revealed that the company succeeded in suppressing a number of expenses, such as sales dropped by 16.55%, general and administrative expenses by 3.53% and other operating expenses by 87.59%.
The decrease in expenses has hampered the decline in operating profit to IDR 51.44 billion compared to the same period in 2019 at IDR 52.16 billion. However, the tax burden that jumped to IDR 16.28 billion from IDR 12.57 billion, caused a decrease in net profit for the current year, from IDR 40.21 billion to IDR 35.14 billion. (AM/VA)