MKNT - PT. Mitra Komunikasi Nusantara Tbk

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JAKARTA. PT Media Komunikasi Nusantara Tbk (MNKT), a telecommunication device retailer, recorded net sales of IDR 3.03 trillion from January to September (9M) 2021. It shrank by 4.4% from the sales reported in the same period last year.

In the recently released financial report, this decline resulted from the decreased new prepaid SIM card and credit recharge vouchers sales by 4.4%. Even more so, cellphone and tablet sales took a sharp downturn by 97%.

Prepaid SIM cards and credit recharge vouchers are the primary contributors to MNKT’s sales by the end of September 2021. Meanwhile, cellphones and tablet sales only generated IDR 254.52 thousand.

These drastic falls in sales dragged MNKT’s profitability down in 9M 2021. In this period, the company yet again suffered from a loss of IDR 33.04 billion. Thankfully, this loss was not any worse than the loss born in 9M 2020 of IDR 71.95 billion.

Based on data, PT Monjess Investama still controls 46.12% of MNKT’s shares by the end of September 2021. Then, PT Sun International Capital owns another 6.88, while public investors share the remaining 47%. (KR/ZH)