JAKARTA – Shares of PT Raharja Energi Cepu Tbk (RATU) plunged during the first trading session at 11:59 WIB, Wednesday (12/3). This decline coincides with the company reporting a 42.92% year-on-year (yoy) drop in profit for 2024 compared to 2023.

As of the close of the first session, RATU shares had fallen by 6.85%, or IDR 375, to IDR 5,100 per share. Today, the shares opened at IDR 5,400, with the highest price reaching IDR 5,450 and the lowest at IDR 4,800 per share.

Yesterday (11/3), RATU shares dropped by IDR 350 to IDR 5,475 per share, recording 11.51 million shares traded across 8,470 transactions worth IDR 65.82 billion.

Over the past week, RATU shares have decreased by IDR 1,125 or 18.07%, and over the past month, they have fallen by 29.17%, or IDR 2,100 per share.

On the other hand, RATU reported a revenue increase of 22.75% yoy to USD 57.47 million in 2024, up from USD 47.04 million in 2023.

However, net profit fell to USD 13.87 million from USD 24.30 million, due to a 245% yoy drop in profit before income tax to USD 24.76 million from USD 32.84 million, impacted by rising general and administrative expenses, as well as higher financial and interest costs. (LK/ZH)