Thanks to "KKN di Desa Penari," MD Pictures' Profits Soared 418% in 2022

PT MD Pictures Tbk (FILM) reported positive performance with a significant increase in net profit, soaring 418% year-on-year (YoY) to nearly Rp160 billion in 2022.

This was revealed during the Annual General Meeting of Shareholders (RUPST) and the Extraordinary General Meeting of Shareholders (RUPSLB) held on Friday, June 9, 2023.

The increase in net profit for the film production company was supported by a surge in sales in 2022, reaching Rp439.9 billion. In comparison, net profit in 2021 reached Rp33.67 billion.

In 2020, the company's net profit plummeted to a loss of almost Rp57 billion. This period coincided with the height of the Covid-19 pandemic, which severely restricted all public activities, including cinema attendance.

MD Pictures CEO Manoj Punjabi stated that the significant increase in net profit in 2022 was influenced by the screening of the film *KKN di Desa Penari* in 2022.

He noted that *KKN di Desa Penari* brought audiences back to cinemas. Due to audience enthusiasm, this film was named one of the highest-grossing films of all time, with over 10 million viewers.

In addition, throughout 2022, MD Pictures also produced other feature films such as *Kukira Kau Rumah*, *Garis Waktu*, and *Mendarat Darurat*.

"MD Pictures is on track with its strategy of making high-quality films that are popular with audiences. Each quarter, there will be 1 to 2 feature films that will be blockbusters. In terms of digital, we have a very good relationship with various OTT platforms," explained Manoj.

The following are the net profit achievements from MD Pictures' total comprehensive income from 2020-2022:

* 2022
Rp159.98 billion
* 2021
Rp33.67 billion
* 2020
(Rp56.96 billion)

(Also read: [This is Indonesia's highest-grossing film overtaken by "KKN di Desa Penari"])