JAKARTA - PT Merdeka Copper Gold Tbk (MDKA) posted a current loss of US$ 6.34 million in the first quarter of 2021 compared to the same period in 2020 with a profit of US$ 14.11 million. The loss was due to the drop in operating revenue by more than 50%.
In the first quarter of 2021 Financial Report published on Wednesday (19/5), Tri Boewono, President Director of PT Merdeka Copper Gold Tbk (MDKA) said that operating revenue was US$ 46.54 million, down from US$ 103.78 million. The gross loss was US$ 2.22 million, decreased to the gross profit of US$ 34.21 million because the cost of revenue was higher than revenue.
The decline in revenue came from the export sales segment, while the domestic market increased from last year. Revenue from exports was recorded at US$ 40.09 million from US$ 108 million and domestic at US$ 5.98 million, up from US$ 1.09 million.
The contribution from MDKA customers last year reached US$ 96.38 million, down to US$ 39.68 million. The company's third party customers include Precious Metals Global Markets (HSBC), Mitsui & Co Ltd, and PT Karya Sumiden Indonesia. (LK/LM)