JAKARTA. The revenue of PT Lavender Bina Cendikia Tbk (BMBL), a tuition centre and education consultancy company, was corrected 15% year-on-year (yoy) in the first half of 2023 to IDR 8.46 billion.

Previously in H1 2022, BMBL still managed to collect IDR 9.99 billion of revenue.

The decrease in BMBL’s revenue in H1 2023 also affected its net profit adversely, which only managed to reach IDR 928.49 million. In comparison, in the same period last year, its net profit was recorded IDR 4.65 billion.

According to IDNFinancials record, most of the revenue of BMBL in H1 2023 came from quarantine programs that brought in IDR 6.85 billion. Then, the remaining amount of revenue came from regular programs that contributed IDR 1.61 billion.

The declining net profit of BMBL in H1 2023 also resulted from the increased cost of revenue that reached IDR 2.62 billion. In the same period last year, it was only IDR 1.66 billion.

Furthermore, general and administrative expenses of the company also swelled to IDR 4.5 billion in H1 2023. In the same period last year, general and administrative expenses were only IDR 3.07 billion. (KR/ZH)