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Djasa Ubersakti suffers an IDR 7.3 billion loss due to iron price surge

30 June 2021 22:07

JAKARTA. PT Djasa Ubersakti Tbk (PTDU) records a loss of IDR 7.3 billion in Q1 2021 following the rise in iron price and other expenses.

According to Toto Yulianto, the Financial Director of PTDU, this loss results from the plummeting revenue of 13.4% year-on-year (yoy) in Q1 2021 to IDR 5.64 billion. In the same period last year, Djasa Ubersakti still managed to secure an IDR 6.51 billion in revenue.

“Speaking of expenses, there is a swell in the direct expenses, especially in the iron price soaring over 30% since the end of last year and the increasing general and administrative expenses, including wage and employee benefit, and other expenses,” Yulianto explained in a press conference earlier today (30/6).

However, Yulianto claims PTDU is still optimistic that its financial performance would improve in the next quarter. It is due to the project development that is currently got picked up again.

PTDU owns total assets of IDR 260.04 billion in March 2021. Its total liability also climbs 22.73% in Q1 2021 to IDR 173.56 billion from the number recorded in December 2020. (KR/ZH)

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