Puan Maharani's Husband's Company's Revenue Plummeted, But Its Profits Jumped 668 Percent To IDR 3.78 Billion

Illustration. (Photo: Doc. Rukun Raharja)

JAKARTA - The company owned by Puan Maharani's husband, PT Rukun Raharja Tbk (RAJA), achieved a surge in performance in terms of net profit in the first semester of 2021 despite their declining income.

In RAJA's financial report, quoted on Tuesday, August 31, the profit of the company owned by Hapsoro Sukmonohadi, husband of the Speaker of the House of Representatives, Puan Maharani, jumped dramatically by 668.59 percent from US$33.98 thousand in June 2020 to US$261.17 thousand or around IDR 3.78 billion.

In fact, RAJA's revenue experienced a correction or decreased by 5.39 percent from US$ 53.01 million in the first semester of 2020 to US$ 50.15 million in the first semester of 2021. Gas sales are still the largest contributor to RAJA's revenue, where the figure has shrunk from 46.06 million US dollars in June 2020 to US$43.35 million.

Meanwhile, 40.16 percent or US$17.41 million was contributed by gas sales to PT PLN in the first half of 2021. In addition to gas sales, toll fee income also experienced a correction, which was initially US$5.52 million to US$5.18 million.

There are several factors that can support the company's profit performance when revenue declines. For example, RAJA pocketed a higher subsidiary profit in June 2021, which rose from US$879.29 thousand to US$1.55 million.

Then other income also grew from US$111.62 thousand to US$192.03 thousand. In addition, RAJA managed to cut the foreign exchange loss from the initial US$758.72 thousand to US$349.66 thousand.

In addition, interest expense experienced a sharp decline from US$1.24 million to US$897.44 thousand.

For information, PT Rukun Raharja Tbk (RAJA) is engaged in natural gas distribution services or services. The company started business operations in February 2012.