JAKARTA - PT Ancora Indonesia Resources Tbk's (OKAS) revenue dropped 30% year on year in September 2020. This was announced by OKAS President Director Rolaw P. Samosir in a public expose report on Friday (18/12).
According to Mr Samosir, OKAS's revenue dropped by US$36.3 million from US$120,834 in September 2019 to US$84,626 in September 2020. "The sales of ammonium nitrate (AN) and MNK explosives, explosive services, and work of oil wells dropped significantly during the COVID-19 pandemic," he said.
The company's gross profit dropped to US$12,138 from US$20,276 in September 2019, with an increase of 115% in loss before tax to US$412 from a profit of US$2,728 in September 2019.
The sales of AN dropped 8.2%, explosive services 7.2%, work of oil wells 6.1%, sales of explosives 4.2%, drilling services 1.4%, and others 0.4%. (LK/MS)