JAKARTA. PT Eastparc Hotel Tbk (EAST), the operator of 5-star hotels in Yogyakarta, scored net profit of IDR 6.85 billion in Q1 2024.

The net profit of EAST in Q1 2024 was reportedly lower 15% year-on-year (yoy) compared to the same quarter last year, in which the company managed to book profit of IDR 8.06 billion.

According to the newly released financial report, EAST’s decline in net profit resulted from decreased revenue of 7.75% yoy to IDR 22.49 trillion. In the same quarter last year, the company’s revenue was reported at IDR 24.38 billion.

In addition, the operating and depreciation expenses of EAST in Q1 2024 also rose to IDR 7.47 billion and IDR 751 million. Meanwhile, the operating and depreciation expenses seen in the same period last year were only IDR 6.74 billion and IDR 671 million, respectively.

Until the end of March 31, 2024, EAST’s total assets were reported at IDR 489.75 billion, while total equity clocked up to IDR 469.01 billion. (KR/ZH)