The Profit Of Pondok Indah Mall Managers Owned By Conglomerate Murdaya Poo Drops 57 Percent In The First Quarter Of 2021

Pondok Indah Mall. (Photo: Commons Wikimedia)

JAKARTA - The manager of Pondok Indah Mall, PT Metropolitan Kentjana Tbk achieved an unsatisfactory performance in the first three months of this year. The revenue and profit of the company codenamed MKPI fell in the first quarter of 2021.

In MKPI's financial report published on the Indonesia Stock Exchange (IDX) website, quoted on Monday, July 5, the company owned by the conglomerate Murdaya Poo posted a 33.58 percent decline in revenue and net sales in the first quarter of 2021 or to Rp. last year which was recorded at Rp432.53 billion.

Meanwhile, direct costs and cost of goods sold were Rp. 176.64 billion, a decrease of 23.37 percent from the first quarter of 2020, which was Rp. 230.52 billion. As a result, the gross profit recorded by the company in the first quarter of 2021 was Rp110 billion from the previous Rp202 billion.

Profit before tax was Rp. 78.76 billion, a decrease of 59.67 percent. Previously in the first quarter of 2020, the company's profit before tax reached Rp. 195.33 billion.

Meanwhile, the profit for the year attributable to owners of the parent entity was Rp. 87.49 billion, a decrease of 57.82 percent from the same period last year of Rp. 207.45 billion. Meanwhile, basic earnings per share was Rp92.28 from the original Rp218.79.

Metropolitan Kentjana started commercial operations in 1975. Now the company owns and manages Pondok Indah I, II and Street Gallery shopping centers, Pondok Indah Office Towers I, II and III, Pondok Indah Office Park and Pondok Indah Golf Apartment I, II and III as well as the Pondok Indah housing estate project, Taman Shangril La in Batam and the Pondok Indah Hotel.

Metropolitan Kentjana is controlled by PT Karuna Paramita Propertindo with a 47.44 percent share ownership. Karuna Paramita Propertindo is a company owned by conglomerate Murdaya Poo, the 29th richest person in Indonesia according to Forbes magazine as of December 2020.