Profit Of BSD, Sinar Mas Property Developer Conglomerate Eka Tjipta Widjaja Drops 31.81 Percent To Rp463.63 Billion In Semester I 2022

Photo: Doc. BSD City

JAKARTA - Property developer from the Sinar Mas Group belonging to the late Eka Tjipta Widjaja conglomerate, PT Bumi Serpong Damai Tbk (BSDE) recorded a 31.81 percent decline in net profit despite an increase in revenue until the second quarter of 2022.

In BSD's financial report, quoted on Monday, August 1, the company posted a net profit of Rp.463.63 billion, a decrease of 31.81 percent from the same period in the previous year of Rp.680 billion.

In fact, the company's operating income grew by 17.86 percent to Rp3.83 trillion from the previous Rp3.25 trillion. This increase was supported by sales of land and buildings of Rp2.48 trillion, up 1.69 percent from the previous Rp2.44 trillion.

Then, the sales segment for strata title land and buildings rose by 209.34 percent to Rp408.37 billion from the previous Rp132.01 billion. Rental income also increased from Rp457.79 billion to Rp365.32 billion.

Meanwhile, construction revenue grew 91.11 percent to Rp289.48 billion from Rp151.46 billion. Hotel segment revenue also rose to Rp7.96 billion from the previous Rp4.66 billion.

Then, recreation arena revenue also grew significantly by 289.72 percent to Rp 10.53 billion from the previous Rp 2.70 billion. Meanwhile, revenue from building management services was recorded at Rp169.92 billion.

From the expenditure side, the company's cost of goods sold rose 37.33 percent to Rp1.46 trillion from Rp1.06 trillion. In addition, the company's operating expenses also rose 26.87 percent from the previous Rp. 1.06 trillion to Rp. 1.35 trillion.

Until the end of June 2022, the company's total asset value grew 3.61 percent to Rp. 63.69 trillion from Rp. 61.46 trillion in December 2021. Then, the company's liabilities were recorded at Rp. 27.59 trillion and the company's equity until the second quarter of 2022 was Rp. 36.09 trillion. .