JAKARTA - PT Moda Raya Terpadu or MRT Jakarta recorded a net profit for the year in 2024 of only Rp9.08 billion or a decrease of 50.98 percent when compared to the same period in 2023 of Rp18.92 billion.
Even though MRT Jakarta's revenue in 2024 is IDR 1.38 trillion. This is due to the increase in income tax expense.
This number increased by 2.34 percent when compared to revenue in the same period the previous year of Rp1.35 trillion.
This revenue performance was revealed in financial reports, revenue of IDR 1.38 trillion in 2024 came from ticket revenues of IDR 288.65 billion, an increase of 15.06 percent when compared to the same period in the previous year of IDR 250.87 billion.
Meanwhile, non-ticket revenue of IDR 332.01 billion in 2024 or decreased by 7.37 percent compared to the same period in the previous year of IDR 358.42 billion.
Meanwhile, subsidy income reached IDR 765.20 billion in 2024, an increase of 2.88 percent compared to the same period in the previous year of IDR 743.76 billion.
However, the increase in revenue also raised the cost of revenue to IDR 1.16 trillion, an increase of 4.03 percent compared to the same period from the previous year of IDR 1.11 trillion.
Thus, gross profit in 2024 was recorded at IDR 221.23 billion, down 5.29 percent from IDR 233.57 billion in 2023.
Then, general and administrative expenses amounted to Rp256.39 billion, down 5.88 percent from Rp272.40 billion in 2023, making operating profit only grow slightly to Rp35.16 billion, down by 9.44 percent when compared to the same period in the previous year of Rp38.83 billion.
Meanwhile, MRT Jakarta recorded a business receivable of Rp312.33 billion, an increase of 1.69 percent when compared to the same period in 2023 of Rp307.04 billion.
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Meanwhile, business receivables came from related parties amounting to Rp168.07 billion, an increase compared to the previous year, Rp144.49 billion, third parties amounting to Rp255.84 billion or a decrease compared to 2023, Rp277.83 billion, and others worth Rp13.95 billion, an increase when compared to the previous year's Rp5.29 billion.
It is a serious question that this business is more than 80 percent only sourced from one party, namely, PT Avabanindo Perkasa.
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