JAKARTA – The revenue of PT AKR Corporindo Tbk (AKRA) slowed down in Q1 2024 compared to the same period last year. The decline in revenue is contributed by weighty decrease in third-party contracts.

Q1 2024 Financial Report of AKRA quoted Friday (26/4), shows that the revenue totalled IDR 9.81 trillion, down 10.46% year-on-year (yoy) from Q1 2023 worth IDR 10.95 trillion. Then, the user contracts slipped 10.48% yoy to IDR 9.74 trillion from IDR 10.89 trillion, while lease income declined 8.39% yoy from IDR 67.57 billion to IDR 61.89 billion.

Gross profit was recorded at IDR 894.09 billion, down 16.45% yoy from IDR 1.07 trillion, leading to the operating profit slipping 13.56% yoy from IDR 800.95 billion to IDR 692.32 billion.

In addition, the company also scored current year’s net profit of IDR 653.36 billion, down 3.81% yoy from IDR 679.29 billion. The net profit attributable to the parent entity clocked up to IDR 595.45 billion, sliding down 1.96% yoy from IDR 607.27 billion, while net profit attributed to non-controllers dropped 18.19% yoy to IDR 57.91 billion from IDR 72.01 billion. (LK/ZH)