NRCA’s revenue plummets by 94.76% in Q1 2021
JAKARTA – The delay of the new project execution and tenders during the COVID-19 pandemic significantly drags PT Nusa Raya Cipta Tbk’s (NRCA) revenue down by 94.76% in Q1 2021 compared to Q1 2020.
Hadiwinarto Christanto, the President Director of PT Nusa Raya Cipta Tbk (NRCA), claimed that the pandemic affects the company’s operational and business activities, both directly and indirectly. “In Q1 2021, the revenue only reached IDR 341.95 billion, dropping down from IDR 653.35 billion in the same period in 2020,” as stated by Christanto in the Financial Report of Q1 2021, published Friday (4/6).
The most significant contributor to the revenue amounts to IDR 340.95 billion, coming from the construction service sector. The hotel segment adds another IDR 999.46 million. In Q1 2020, the construction sector provided IDR 652.14 billion, while the hotel sector’s contribution reached IDR 1.21 billion.
The diminishing contribution from the construction services is due to several projects and new tenders being postponed. Meanwhile, the decrease in hotel revenue is due to the large-scale social distancing affecting the hotel occupancy level.
These conditions also decrease the company’s current year’s profit, from IDR 28.04 billion to IDR 8.48 billion in Q1 2021. (LK/ZH)