Good News From Mustika Ratu, This Cosmetics Manufacturer Profits Soared 54 Percent In The First Quarter Of 2021

Mooryati Soedibyo. (Photo: Doc. Antara)

JAKARTA - PT Mustika Ratu Tbk recorded an encouraging performance in the first three months of 2021. The company codenamed MRAT managed to increase its revenue and net profit to double digits in the 2021 quarter.

In MRAT's financial report published on the Indonesia Stock Exchange website, quoted on Sunday, June 20, the company founded by Mooryati Soedibyo managed to record net sales of IDR 88.59 billion in the first three months of this year. This achievement increased by 30.10 percent (yoy) compared to MRAT's net sales in the first quarter of 2020 of Rp68.09 billion.

In addition, net income attributable to owners of MRAT's parent entity was recorded at Rp1.91 billion. This figure jumped 54.03 percent (yoy) compared to the company's net profit in the first quarter of 2020 of Rp1.24 billion.

The majority of MRAT's net sales in the first quarter of 2021 came from the personal care business segment of Rp62.73 billion. This was followed by sales of health products of Rp. 21.40 billion, cosmetics of Rp. 13.09 billion, and herbal and health drinks of Rp. 9.56 billion.

Meanwhile, MRAT's cost of goods sold increased by 80.56 percent (yoy) to Rp42.96 billion in the first quarter of 2021. Meanwhile, in the first quarter of 2020, the company's cost of goods sold was at the level of Rp.25.27 billion.

As a result, MRAT recorded a gross profit of Rp42.96 billion in the first quarter of 2021, a slight increase of 0.32 percent (yoy) compared to the company's gross profit in the same period in the previous year of Rp42.82 billion.

Mustika Ratu also earned an operating profit of Rp4.49 billion in the first quarter of 2021, an increase of 58.09 percent (yoy) compared to MRAT's operating profit in the first quarter of 2020 of Rp2.84 billion.

The total assets owned by Mustika Ratu until the first quarter of 2021 reached Rp561.27 billion. This figure increased by 0.29 percent compared to MRAT's total assets at the end of 2020 of Rp559.79 billion.