JAKARTA. PT Ramayana Lestari Sentosa Tbk (RALS), the managing company of Ramayana and Robinson Department Stores, booked significant growth in its net profit in Q1 2024.

According to the recently released financial report, RALS’s net profit reached IDR 106.82 billion in Q1 2024, multiplied 2.5 times from the same quarter last year. This surge is supported by RALS’s revenue growth, reaching 42% year-on-year (yoy) to IDR 829.09 billion in Q1 2024.

The highest revenue growth was seen in outright sales segment, which clocked up to IDR 638.55 billion. The remaining IDR 190.53 billion came from commission fees of consignation sales.

Aside from that, RALS also reported increase in other revenue to IDR 5.9 billion in Q1 2024, up 64% yoy. Then, the company’s financial income also rose 8.34% yoy to IDR 28.25 billion.

Until March 31, 2024, RALS’s assets also grew 6.66% yoy to IDR 5.22 trillion. Cash and cash equivalent recorded by the company also grew 16.4% yoy to IDR 1.39 trillion, while total equity saw 3% yoy increase to IDR 3.66 trillion.

Approximately 66.85% of RALS’s shares are now under the control of PT Ramayana Makmursentosa. Public investors own another 27.76%, while the remaining portion belongs to directors and commissioners of the company. (KR/ZH)