Due To Many Testing For COVID-19, Prodia Achieves 88 Percent Revenue Growth To IDR 1.2 Trillion In Semester I 2021

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Prodia Widyahusada Tbk recorded performance growth in the first six months of this year. Due to a large number of COVID-19 tests, the revenue and profit of the PRDA stock-coded laboratory issuer soared significantly in the first semester of 2021.

In Prodia's financial report, which was published on the Indonesia Stock Exchange (IDX) website, quoted Thursday, August 5, the company's net income shot up by 88.4 percent to IDR 1.2 trillion and net profit increased more than 20 times to IDR 301.02 billion to first semester 2021.

In this half-year period, Prodia has served a lot of COVID-19 tests. They fished for more than 8 million health checks consisting of genomic tests, routine tests, COVID-19 tests, and other health checks.

The increase in net income in the first semester of 2021 was supported by revenue contributions from each customer segment. The individual customer segment and doctor referrals contributed 68.19 percent to the company's revenue. Meanwhile, the third-party reference segment and corporate clients contributed 31.81 percent of the company's revenue.

Esoteric test revenue also grew by 214.9 percent to IDR 485.01 billion in line with the increasing number of esoteric test requests in the first semester of 2021 to around 1 million tests. Prodia's President Director, Dewi Muliaty, said Prodia's achievements during the first six months of 2021 reflect efforts to anticipate market uncertainty internally and in responding to customer needs.

"Currently, we have a strong financial position and continue to strive to generate solid revenues and profits so that we can continue to provide high returns for shareholders and sustainable added value for our stakeholders", said Dewi.

The net profit margin and EBITDA margin increased to 24.3 percent and 35.9 percent, respectively. The company managed to book a current ratio of 663.1 percent and a quick ratio of 638.4 percent. This financial ratio also reflects Prodia's balance sheet which is also getting stronger.

The company's total assets in the first semester of 2021 recorded an increase of IDR 2.4 trillion compared to the previous year. Current assets to IDR 1.49 trillion and non-current assets to IDR 898.79 billion. Meanwhile, total liabilities increased to IDR 462.94 billion.

Meanwhile, short-term liabilities reached IDR 224.75 billion and long-term liabilities reached IDR 238.18 billion. Total Equity increased to IDR 1.93 trillion compared to 2020 which reached IDR 1.78 trillion.