JAKARTA. PT Adhi Kartiko Pratama Tbk (NICE), a nickel mining issuer listed on the Indonesia Stock Exchange (IDX) early this year, only posted a net profit of IDR2.33 billion in the first quarter (Q1) of 2024.

This achievement is 90.3% lower than the same quarter last year, where NICE was able to post a net profit of IDR24.07 billion.

Based on the recently released financial report, the decline in NICE's net profit in Q1 2024 was in line with sales performance which only reached IDR136.32 billion. In the same quarter last year, the company's sales were recorded at IDR180.05 billion.

NICE's sales throughout Q1 2024 were made to related parties and there were no sales to third parties. This is different from the same period last year, where the company only made sales to third parties.

As of March 31, 2024, NICE had total assets of IDR322.39 billion, with cash and cash equivalents of IDR94.35 billion. Meanwhile, the company's total equity was recorded at IDR143.05 billion. (KR/LM)