JAKARTA - PT Gunawan Dianjaya Steel Tbk (GDST), an iron and steel producer, managed to score a profit of IDR 6.91 billion in the first quarter of 2021 with maximum efficiency in other expenses. In a similar period in 2020, this company posted a loss of IDR 107.52 billion.
Gwie Gunadi Gunawan, Vice President Director of PT Gunawan Dianjaya Steel Tbk (GDST) said that sales were recorded at IDR 432.30 billion in the first quarter of 2020, higher than IDR 399.41 billion in the same period last year. Gross profit and profit before estimated tax were IDR 37.85 billion and IDR 8.64 billion, respectively. This achievement was due to the loss on foreign exchange rates of IDR 3.77 billion.
In the previous period, the gross profit and loss before the estimates were respectively IDR 21.89 billion and IDR 141.60 billion. Other expenses were quite high due to foreign currency exchange losses of IDR 135.52 billion
GDST's revenue increased because the contribution of export plate sales grew from IDR 10.17 billion to IDR 48.66 billion, waste sales IDR 23.97 billion to IDR 25.94 billion, slab sales posted sales of IDR 236.11 million from previously not printing sales , as well as local plate sales of IDR 365.26 billion, down to IDR 357.46 billion. (LK/LM)