RCCC Net Profit Increases By 1,369 Percent In The First Quarter Of 2024

JAKARTA - Transportation management service issuer, PT Utama Radar Cahaya Tbk (RCCC) posted a net profit in the first quarter of 2024 of IDR 824 million, an increase of 1,369 percent compared to the first quarter of 2023 of IDR 56 million.

RCC President Director Alvin Tjokrohadi said the increase in net profit was contributed by a significant increase in revenue in the first quarter of 2024 where the Company's revenue increased 44 percent to IDR 20 billion compared to the first quarter of 2023 period of IDR 14 billion.

Furthermore, Alvin said, the increase in the Company's revenue was caused by an increase in revenue from the addition of the Company's fleet.

"Management believes that it can consistently maintain revenue growth and net profit until the end of 2024," he explained in his official statement, quoted on Tuesday, May 14.

The RCC recorded a cost of revenue in the first quarter of 2024 of IDR 14.72 billion, up 24.87 percent compared to the first quarter of 2023 which amounted to IDR 11.78 billion.

As a result, RCC's gross profit was IDR 5.64 billion in the first quarter of 2024, up 141 percent compared to the first quarter of 2023 which amounted to IDR 2.29 billion.

Until the end of March 2024, total RCC assets rose to Rp97.22 billion compared to the end of December 2023 of Rp88.06 billion. Furthermore, total liabilities rose to Rp53.69 billion compared to the end of December 2023 of Rp45.36 billion. Meanwhile, total equity rose to Rp97.22 billion compared to the end of 2023 of Rp88.06 billion.