Link Net, Internet Service Company Owned By Conglomerate Mochtar Riady Earns Revenue Of IDR 1.06 Trillion In The First Quarter Of 2021

JAKARTA - The internet service company, PT Link Net Tbk, recorded a fairly good performance in the first quarter of 2021. The revenue and net profit of the issuer codenamed LINK increased.

Based on Link Net's financial report as of March 31, 2021, quoted Monday, June 7, this company owned by conglomerate Mochtar Riady recorded revenue of Rp. 1.06 trillion in the first quarter of 2021. This achievement rose 11.48 percent compared to the same period last year of Rp. 958.99 billion.

The company's cost of revenue from the Lippo Group increased slightly to Rp215.04 billion compared to the same period last year of Rp210.79 billion.

Other expenses managed to decrease, only depreciation expense increased to Rp253.79 billion from Rp198 billion last year and amortization expense increased to Rp12.65 billion compared to the first quarter of 2020 of Rp10.6 billion.

Operating profit also increased to Rp358.01 billion compared to Rp307.06 billion. Profit for the current period was Rp249.02 billion from the same quarter last year of Rp197.7 billion. As a result, profit for the period attributable to owners of the parent company increased 25.96 percent to Rp249.02 billion compared to the same quarter last year of Rp197.7 billion.

On the other hand, the company's total liabilities also increased to Rp4.23 trillion in the first quarter of 2021 compared to the end of 2020 which was Rp3.17 trillion. The increase mainly occurred in the number of long-term liabilities which became Rp1.4 trillion compared to the end of last year which amounted to Rp359 billion.

Meanwhile, the number of short-term liabilities rose slightly to Rp2.83 trillion from Rp2.81 trillion at the end of last year. The increase in long-term liabilities occurred because the company had just made a long-term bank loan of Rp. 1 trillion.

Meanwhile, total assets also increased sharply to Rp9.1 trillion compared to December 31, 2020 which amounted to Rp7.79 trillion. The increase occurred in current assets to Rp1.66 trillion compared to the position at the end of the year Rp774.43 billion.

Meanwhile, the number of non-current assets also increased to Rp7.44 trillion compared to Rp7.02 trillion at the end of last year.