JAKARTA. PT Waskita Beton Precast Tbk (WSBP) posted a loss of IDR 640.6 billion in the first nine months (9M) of 2024, 25.6% higher year-on-year (yoy) or compared to the same period last year.

According to idnfinancials.com data, WSBP's loss in 9M 2023 was recorded at IDR 509.86 billion.

Based on the financial report just released, WSBP posted operating revenues of IDR 1.33 trillion in 9M 2024. The company's operating revenues in this period rose 29% yoy or from IDR 1.03 trillion in 9M 2023.

However, WSBP's cost of revenue in 9M 2024 increased 19% yoy to IDR 1.05 trillion. Then the company's sales expenses increased 62% yoy to IDR 99.17 billion, financial expenses rose 8% yoy to IDR 212.9 billion, and other income minus IDR 163.9 billion.

For the record, currently the Indonesian Securities Rating Agency (Pefindo) maintains WSBP's rating at the "idB" level with a stable outlook. This rating also applies to all bonds issued by WSBP.

However, the company's parent company, PT Waskita Karya (Persero) Tbk (WSKT), only received an "idSD" rating because it had not completed debt restructuring. (KR/LM)