Despite Lower Profits, SCTV's Parent Company Enters LQ45 Index in 2023

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Adi Ahdiat 04/04/2023 16:55 WIB

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SCTV's parent company, PT Surya Citra Media Tbk (SCMA), reported a net profit of Rp846.4 billion in 2022, down 37% from the previous year.

Net Profit of PT Surya Citra Media Tbk (2019-2022)

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Despite Lower Profits, SCTV's Parent Company Enters LQ45 Index in 2023

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Net Profit of PT Surya Citra Media Tbk (2019-2022)

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PT Surya Citra Media Tbk (SCMA) reported a net profit of Rp846.4 billion in 2022, a 37% decrease year-on-year (yoy).

SCMA is the parent company of two national private television stations, namely SCTV and Indosiar.

This media issuer also has many subsidiaries engaged in content production, advertising services, artist management, and film streaming services under the Vidio brand.

Previously, in the 2019-2021 period, SCMA achieved significant profit growth, as shown in the graph.

In 2022, SCMA's net revenue actually still increased by 20% (yoy) to Rp7.1 trillion. However, its revenue was significantly eroded, mainly due to a 53% (yoy) increase in broadcasting program expenses to Rp4.4 trillion.

Despite the decrease in profit, SCMA joined the LQ45 index in the February-July 2023 period as a new entrant.

The LQ45 is a list of 45 selected issuers according to the Indonesia Stock Exchange (BEI), whose performance is considered good based on certain criteria, such as having a large market capitalization and high liquidity.

SCMA's total assets increased from Rp9.9 trillion in 2021 to Rp10.9 trillion in 2022.

Total liabilities or debt decreased from Rp2.5 trillion to Rp2.2 trillion, while total equity increased from Rp7.5 trillion to Rp8.7 trillion.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."