Deltamas Cikarang Developer Owned By Conglomerate Eka Tjipta Widjaja Earns IDR 1.31 Trillion In Revenue And IDR 635 Billion In Profit

City of Deltamas Cikarang. (Photo: Doc. Sinar Mas Land)

JAKARTA - The property developer of the Sinarmas Group that manages Kota Deltamas Cikarang, PT Puradelta Lestari Tbk (DMAS) recorded a brilliant performance in the first nine months of this year.

In the DMAS financial report published on the Indonesia Stock Exchange (IDX) website, quoted Wednesday, October 27, the net profit of the company owned by the late conglomerate Eka Tjipta Widjaja was recorded at IDR 635 billion in the third quarter of 2021. This achievement rose 109.8 percent compared to net profit in the third quarter of 2021. the first nine months of 2020 which is worth IDR 302 billion.

The increase in net profit was in line with operating income which also shot up to Rp1.31 trillion. This achievement is equivalent to twice the operating income in the first half of 2020 which was valued at Rp655 billion.

Director and Corporate Secretary of DMAS, Tondy Suwanto, explained that the industrial segment contributed the largest contribution to the company's operating income. Operating revenues from the industrial segment in the first nine months of 2021 amounted to Rp1.14 trillion or around 87.5 percent of operating revenues.

"The residential segment contributed Rp110 billion or 8.4 percent of operating income," said Tondy.

Meanwhile, DMAS posted a gross profit of Rp740 billion, higher than the gross profit in the same period in the previous year of Rp427 billion. The company's operating profit was recorded at Rp593 billion, higher than operating profit in the same period in the previous year of Rp285 billion.

Meanwhile, the total assets of DMAS as of September 30, 2021 were recorded at Rp. 6.50 trillion, down 3.7 percent compared to assets as of December 31, 2020, which amounted to Rp. 6.75 trillion.

The decrease in total assets was mainly due to a decrease in cash and cash equivalents. The company's cash and cash equivalent position as of September 30, 2021 was IDR 1.26 trillion, down 8.6 percent compared to the cash position on December 31, 2020 of IDR 1.38 trillion.

"The decrease in cash and cash equivalents was caused by the distribution of cash dividends. The company distributed cash dividends to shareholders of Rp313 billion in June 2021," said Tondy.