Waskita Beton (WSBP) Records a Loss of IDR 126 Billion in the First Quarter of 2024

Oleh: Vina Elvira

Rabu, 01 Mei 2024 23:36 WIB

KONTAN.CO.ID - JAKARTA. PT Waskita Beton Precast Tbk (WSBP) has reported its financial performance for the first quarter of 2024, recording a business revenue of IDR 505.68 billion.

According to the financial report released on Wednesday (1/5), WSBP's business revenue grew by 37.74% year on year (YoY) to IDR 505.68 billion.

In the first quarter of 2023, WSBP's business revenue was recorded at IDR 367.11 billion.

WSBP's business revenue based on products includes readymix and quarry revenue of IDR 182.38 billion, precast revenue of IDR 233.44 billion, and construction services revenue of IDR 89.85 billion.

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During the first quarter of 2024, WSBP recorded a 26.70% YoY increase in cost of revenue to IDR 391.52 billion.

This resulted in a gross profit surge of 96.42% YoY, from IDR 58.11 billion to IDR 114.15 billion.

At the same time, WSBP recorded a swell in sales expenses by 76.56% YoY to IDR 42.17 billion.

Similarly, general and administrative expenses also saw a rise of 6.44%. The figure increased from IDR 111.77 billion to IDR 118.97 billion.

By the end of March 2024, WSBP reported a loss of IDR 126 billion. In contrast, at the same point last year, it had recorded a net profit of IDR 16.44 billion.