Receh.in - PT Sidomulyo Selaras Tbk (SDMU) had a net profit of IDR 2.37 billion in the first nine months of 2022, a significant increase from the same period in 2021 when they had a net loss of IDR 8.83 billion.
According to financial reports cited by Receh.in from the Indonesia Stock Exchange website, the increase in net profit was largely due to a 16.85% increase in net income to IDR 70.36 billion.
However, the total cost of revenue for SDMU also increased to a deficit of IDR 47.22 billion in the first nine months of 2022, compared to a deficit of IDR 45.82 billion in the same period the previous year. As a result, SDMU recorded a gross profit of IDR 23.13 billion in the third quarter of 2022, an improvement from the same period in 2021 when they recorded a gross profit of IDR 14.38 billion.
SDMU also recorded a profit before income tax of IDR 2.73 billion in the third quarter of 2022, a significant improvement from the loss before income tax of IDR 8.83 billion in the same period in 2021.
In addition, SDMU had a profit for the period ending September 30, 2022, of IDR 2.37 billion. In the same period in 2021, the company recorded a loss for the period of IDR 8.83 billion.
As of September 30, 2022, SDMU had a decrease in liabilities to IDR 170.64 billion from IDR 179.09 billion at the end of 2021. The total equity as of the end of the third quarter of 2022 was recorded at IDR 481.52 million, an increase from the deficit of IDR 1.89 billion at the end of 2021.
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