JAKARTA. PT MNC Land Tbk (KPIG), one of business units under MNC Group, scored net profit of IDR 308.7 billion throughout January-September (9M) 2023.

KPIG’s net profit at the end of September 2023 skyrocketed, increasing 376.3% year-on-year (yoy). The net profit margin, however, remained stable at 29.5%.

According to the official statement, KPIG’s net profit surge is driven by its revenue that soared to IDR 1.05 trillion. It grew 39.8% yoy from IDR 748.9 billion in 9M 2023.

Based on its business segments, hotel and resort line contributed 55.8% of KPIG’s total revenue in 9M 2023. Then, property management and other services generated another 30.5%, followed by office space leasing of 13.1%, as well as apartment and other properties of 0.6%.

At the end of 9M 2023, KPIG’s total assets were recorded at IDR 32.57 trillion, shifting 1.9% yoy. Meanwhile, its total equity was recorded growing 1.1% yoy to IDR 25.78 trillion. (KR/ZH)