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Domestic sales deplete, Sky Energy’s profit plummets by 91%

21 July 2021 12:06

JAKARTA. PT Sky Energy Indonesia Tbk (JSKY) only manages to score IDR 481.54 million in net profit for the first quarter of 2021. It takes a 91% downturn compared to the same period last year.

In a recently published financial report, the significant decline in Energy Sky’s net profit results from the net sales in Q1 2021 that slow down by 36% year-on-year (yoy) to IDR 57.18 billion. In the same period last year, the solar cell manufacturer could gain up to IDR 89.68 billion in net sales.

As an additional record, the local market only brings in IDR 14.06 billion in sales. The remaining IDR 43.12 billion comes from export sales. Compared to last year, JSKY’s sales in the domestic market decline by 54%, while the export market sales fall by 30%.

The sales from JSKY’s battery products add IDR 31.31 billion. Then, solar panel sales follow with IDR 25.79 billion, solar system inverter IDR 7.53 million, and other supporting products IDR 79.74 million.

According to idnfinancials.com data, JSKY’s assets amount to IDR 492.04 billion by the end of March 2021. Meanwhile, its cash and cash equivalents are at IDR 2.9 billion. (KR/ZH)

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