Ramayana Was Able To Turn IDR 85.66 Billion Of Losses To IDR 30 Billion Of Profit In The First Quarter Of 2022

Illustration. (Photo: Doc. Antara)

JAKARTA - The retail company, PT Ramayana Lestari Sentosa Tbk (RALS) posted a positive performance in the first quarter of 2022. The company recorded revenue growth and achieved net profit for the first three months of this year.

In Ramayana's financial report, quoted on Monday 9 May, PT Ramayana Lestari Sentosa Tbk recorded revenue of IDR 600.53 billion in the first quarter of 2022. Realization of that revenue rose 22.32 percent from the same period the previous year to IDR 490.94 billion.

The details of the income, among others, from the sale of goods and services, increased to IDR 483.05 billion in the first quarter of 2022 from the first quarter of 2021, which was IDR 397.89 billion. Meanwhile, the commission on consignment sales rose to IDR 117.47 billion in the first quarter of 2022 from the previous year's stock period of IDR 93.04 billion.

The company recorded an 18.77 percent increase in the cost of goods sold purchased and sold out to IDR 329.08 billion in the first quarter of 2022. In the same period the previous year, the company recorded the cost of goods sold out IDR 277.06 billion.

Seeing this condition, the company's gross profit was IDR 271.44 billion, or grew 26.91 percent compared to the first quarter of 2021 of IDR 213.88 billion. The company suppressed a number of expenses, including sales expenses, which fell to IDR 1.81 billion in the first quarter of 2022 from the same period in the previous year of IDR 15.44 billion.

General and administrative expenses decreased to IDR 244.96 billion in the first quarter of 2022 from the same period the previous year of IDR 302.77 billion.

However, other revenues decreased from IDR 10.59 billion in the first quarter of 2021 to IDR 1.19 billion in the first quarter of 2022. The company also recorded an operating profit of IDR 25.87 billion as of March 2022 compared to the same period in the previous year, which lost IDR 93.74 billion.