JAKARTA. PT Blue Bird Tbk (BIRD) posted a decrease in revenue in the first quarter of 2021 of 45.76% to IDR 480.05 billion from IDR 885.18 billion achieved in the first quarter of 2020.
In line with the decline in income, direct expenses also shrank 41.5% to IDR 396.76 billion, followed by a 29.70% decrease in operating expenses to IDR 129.89 billion. Meanwhile, the interest income which rose 41.16% to IDR 5.45 billion and foreign exchange income of IDR 878 million were not enough to withstand the decline in net profit, even the company had to bear a net loss of IDR 28.25 billion, from a net profit position of IDR 13.74. billion recorded in the first quarter of 2020.
Meanwhile, total liabilities were recorded to have decreased from IDR 2.01 trillion on 31 December 2020 to IDR 1.94 trillion in the first quarter of 2021 followed by a decrease in total equity to IDR 5.20 trillion on 31 March 2021. Meanwhile, cash and cash equivalents amounted to IDR 928.10 billion as of March 31, 2021, up from the position of December 31, 2020 of IDR 798.85 billion. (AM/LM)