JAKARTA - Property developer owned by conglomerate The Ning King alias Harjanto Tirtohadiguno, PT Alam Sutera Realty Tbk (ASRI) recorded a profit for the period attributable to owners of the parent entity or net profit in the first quarter of 2022 of Rp136.85 billion. This achievement reversed from the previous net loss in the same period last year.
In ASRI's financial report, quoted on Saturday, May 21, the company posted sales from services and other business revenues of IDR947.19 billion as of March 2022. ASRI's revenue rose 102.56% year on year (yoy) from IDR467.61 billion in the first quarter of 2021.
The breakdown of revenue in the first quarter of 2022 came from the real estate business of Rp. 816.02 billion, hospitality and infrastructure services of Rp. 117.74 billion, and tourism of Rp. 13.01 billion.
The surge in revenue also boosted the profit achievement for the manager of the Garuda Wisnu Kencana (GWK) area. In the first quarter of 2022, ASRI earned a profit of Rp. 136.85 billion, compared to the previous net loss of Rp. 311.45 billion in the first quarter of 2021.
ASRI's liabilities as of March 2022 reached Rp12.44 trillion, up from the end of 2021 at Rp12.39 trillion. The breakdown of liabilities in the first quarter of 2022 are short-term liabilities of Rp3.82 trillion and long-term liabilities of Rp8.62 trillion.
ASRI recorded equity of Rp9.67 trillion as of March 2022, up from the previous Rp9.54 trillion. Alam Sutera's total assets also reached Rp22.11 trillion from Rp21.93 trillion at the end of 2021.
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