Prodia Net Profit Drops 32.15 Percent In The First Quarter Of 2023

Illustration Prodia (Photo: Doc. Antara)

JAKARTA - PT Prodia Widyahusada Tbk (PRDA) recorded a net profit of IDR 71.4 billion in the first quarter of 2023. This amount was corrected by 32.15 percent from the previous IDR 105.23 billion in the same period in 2022.

The company's revenue as of the end of March 2023 also decreased to Rp517.8 billion from the previous Rp556.07 billion. However, the company's cash and cash equivalents rose 69.4 percent year-on-year (yoy) to Rp856.9 billion from the previous Rp505.74 billion, so that it is expected to become the company's capital to boost performance in the next quarter.

"The first quarter of 2023 can be passed well as evidenced by the company's strong and solid financial position to continue to grow and grow business," said Prodia President Director Dewi Muliaty quoting Antara.

The company sees the performance of the first quarter of 2023 supported by revenue from the B2B (Business to Business) segment as well as the Prodia digital channel. Revenue from external referrals for preventive examinations, such as referrals for hospitals, insurance, and BPJS, also rose by 16 percent (yoy).

The B2C (Business to Customer) segment contracted, but is expected to subside in the next quarter as the month of Ramadan ends.

"The momentum of Ramadan and Eid al-Fitr is a challenge for the laboratory business, where usually at that moment many customers postpone the examination," said Dewi.

On the other hand, Prodia's Home Service service moved positively with a contribution of almost 11 percent of revenue. Service demand through Prodia's digital channel rose 40 percent (yoy) to contribute 16.8 percent to the Company's total revenue.

Thus, the company is optimistic that it can pursue better performance growth in the next quarter.

"The company's financial foundation is still in good and healthy condition. Prodia is optimistic that it can grow with the adaptation of technology and innovation in the medical laboratory world," explained Prodia Finance Director Liana Kuswandi.