JAKARTA. PT Era Graharelaty Tbk (IPAC), a real estate management and developer, booked a net loss of IDR 1.18 billion in the first half (H1) of 2024.

Said loss was seemingly affected by high operational expenses of IPAC in H1 2024, as seen from direct expenses of the company that reached IDR 8.13 billion, up 181% year-on-year (yoy). Then, general and administrative expenses also swelled badly, up 40% yoy to IDR 12.69 billion in H1 2024.

From the top-line, IPAC was seen recording revenue of IDR 19.35 billion in H1 2024, or 66.5% yoy higher from the same period last year.

Commission still brought in the highest contribution to IPAC’s revenue in H1 2024 with IDR 12.49 billion worth of income Then, it was followed by marketing and technical fee of IDR 5.23 billion, franchise of IDR 858 million, royalty of IDR 581 million, and others of IDR 179 million.

According to IDNFinancials data, IPAC debuted on Indonesia Stock Exchange (IDX) on June 30, 2021. During its initial public offering (IPO), the company managed to raise fresh funds of IDR 22.79 billion.

Until June 30, 2024, IPAC reported total assets of IDR 45.95 billion, while its total equity clocked up to IDR 34.06 billion. (KR/ZH)