JAKARTA. PT Bali Bintang Sejahtera Tbk (BOLA), the issuer that manages the Bali United and Putra Samarinda football clubs, only posted a net profit of IDR 16.59 million in the first quarter (Q1) 2024, down 99.95% year-on-year (yoy) or from the same quarter last year.

According to the financial report released, BOLA was still able to record a profit of IDR 36.65 billion in Q1 2023.

The decline in BOLA's net profit is in line with revenue performance in Q1 2024, which only reached IDR 56.55 billion. In the same period last year, the revenue of this issuer owned by Pieter Tanuri was recorded at IDR 83.02 billion.

From an operational perspective, BOLA actually experienced a loss of IDR 18.37 billion in Q1 2024. However, the company posted other profits of IDR 18.39 billion.

Based on data compiled by idnfinancials.com, these other profits come from the release and loan of football players to other clubs.

Meanwhile, BOLA's total assets up to the end of March 2024 decreased by 3.27% yoy to IDR 784.58 billion. Meanwhile, total equity fell 0.01% yoy to IDR 727.11 billion. (KR/LM)