JAKARTA. The investment revenue, particularly from Bukalapak, has propelled the net profit of PT Elang Mahkota Teknologi Tbk (EMTK) or Emtek, soaring 2,454% to IDR 5.54 trillion.
In the Financial Report of EMTK, it is revealed that the company scored revenue IDR 11 trillion higher until September 2022, shifting 15% from IDR 9.59 trillion recorded in Q3 2021. On the other hand, its gross and operating profit shrank 5.52% to IDR 2.76 trillion and 41.74% to IDR 735 billion.
However, its current year’s profit attributable to the parent company proliferated instead, soaring 2,454% year-on-year (yoy) from IDR 217 billion to IDR 5.54 trillion. It resulted from the gains over net-investments of EMTK, which increased 1,741% yoy from IDR 275 billion to IDR 5.06 trillion in September 2022.
The management of EMTK, in its financial report, revealed that the company and its subsidiaries had reportedly made investments in listed shares on the stock exchange with a fair value of IDR 1.77 trillion and IDR 671.8 billion on September 30, 2022, and December 31, 2021. Additionally, it also invested on precious metals. Then, the change of said investments’ fair value was what EMTK highlighted as investment profit.
Sutiana Ali, Director of EMTK, claimed that this massively significant increase in EMTK’s net profit was in accordance with the growth in other segments’ revenue, particularly those originated from investments in associated companies. “The highest amount of revenue came from our investments in our associates. Investment in Bukalapak contributed the most with IDR 3.6 trillion in the first quarter of 2022,” he reiterated.
Bukalapak is known as an associated issuer of EMTK, linked through PT Kreatif Media Karya, EMTK’s subsidiary. As of September 30, 2022, EMTK reported having 24.63% of Bukalapak’s shares, acquiring more than 23.93% recorded in December 2021. (AM/ZH)