JAKARTA - PT Waskita Karya (Persero) Tbk (WSKT) was still burdened with loss, although the revenue shifted 15.17% year-on-year (yoy) higher. The loss resulted from the increased cost of revenue, combined with decreased revenue from other segments.

In the 2022 Financial Report quoted Monday (10/4), Destian Soewardjono, President Director of Waskita Karya, claimed that the operating profit climbed from IDR 12.22 trillion in 2021 to IDR 15.03 trillion in 2022. However, the gross profit dropped from IDR 1.89 trillion to IDR 1.44 trillion, as the cost took up 90.53% of the revenue in 2022, compared to 84.46% of the revenue recorded in 2021.

The profit before financial expenses, as well as the net profit of associates and joint ventures, also shrank massively from IDR 4.07 trillion to IDR 1.96 trillion. It was affected by the increased general and administrative expenses, as well as the decline in other segments’ revenue from IDR 3.51 trillion to IDR 2.12 trillion.

Therefore, WSKT recorded a net loss before taxes of IDR 1.24 trillion in 2022, shifting from IDR 1.08 trillion in 2021. The current year’s loss was reported at IDR 1.67 trillion, actually improving from IDR 1.83 trillion. (LK/ZH)