Siloam Hospitals, Owned By Mochtar Riady Conglomerate Earns IDR 1.9 Trillion In Income In The First Quarter Of 2021

Siloam Hospitals Kebon Jeruk, Jakarta. (Photo: Doc. Siloam Hospitals)

JAKARTA - The hospital company PT Siloam International Hospitals Tbk recorded significant performance growth in the first quarter of 2021. This issuer coded SILO recorded double-digit growth in terms of revenue and net profit.

Quoted from the financial report of Siloam Hospitals published on the Indonesia Stock Exchange (IDX) website, Wednesday, April 28, the company owned by the conglomerate boss of Lippo Group, Mochtar Riady posted revenues of IDR 1.91 trillion in the first three months of 2021. This value grew 32.63 percent. from the same period in 2020 which amounted to IDR 1.44 trillion.

The details, income from inpatient services amounting to IDR 1.06 trillion. Then, the income from outpatient care was IDR 855.34 billion.

At the same time, SILO's cost of revenue rose 22.85 percent to IDR 1 trillion from IDR 814.31 billion previously. Thus, Siloam Hospitals received a gross profit of IDR 907.81 billion or 44.34 percent higher than the gross profit in the first quarter of 2020 of IDR 628.94 billion.

SILO's operating expenses were recorded to have increased from the first quarter of 2020 amounting to IDR 496.09 billion to IDR 574.77 billion in the same period this year. Apart from that, Siloam Hospitals' other expenses amounted to IDR 79.41 billion or 287.77 percent higher than other expenses in the first quarter of last year of IDR 20.48 billion.

As a result, Siloam International Hospitals posted a profit for the period attributable to the owners of the parent entity amounting to IDR 143.89 billion in the first quarter of 2021. This achievement jumped seven times or 790.4 percent from the same period last year of IDR 16.16 billion.