JAKARTA – The stock performance of PT Harta Djaya Karya Tbk (MEJA) skyrocketed 179.79% since its debut on the stock exchange on February 12, 2024, until closing bell this Tuesday (3/12). However, it does not align with its insignificant shift in profit until H1 2024.

Based on IDNFinancials data, MEJA saw 3.37% climb to IDR 306 per share at today’s closing bell from the previous IDR 296 per share at the beginning.

Referring to the initial public offering (IPO) exercise price at IDR 103, the price gap has reached IDR 203 now.

Throughout the day, MEJA reported transaction value of IDR 24 billion with volume of 80.99 million shares in 1,859 transactions. Market cap was recorded at IDR 586.75 billion.

On the other hand, the controlling party of MEJA only manages 0.34% of total 1.97 billion listed shares, leaving the remaining 99.66% to non-controllers.

The number of shareholders only arrived at 1,417 shareholders, much lower from 1,936 shareholders at its IPO.

Until H1 2024, it scored net profit of IDR 2.38 billion, which, in comparison, only reached 32.58% of total 2023 net profit of IDR 7.30 billion. The revenue arrived at IDR 22.69 billion, equal to 49.82% of realised revenue in 2023 of IDR 45.53 billion. (LK/ZH)