NET TV's Losses Swell 110.35% in Q1 2022

PT Net Visi Media Tbk (NETV) remained in the red in Q1 2022. The net loss of the parent company, NET TV, even swelled by 110.35% to Rp43.15 billion in the first three months of this year, compared to Rp20.51 billion previously.

Citing the company's financial report, sales and operating revenue also decreased from Rp123.38 billion in Q1 2021 to Rp97.81 billion in Q1 2022.

Revenue declined across all segments. Advertising revenue fell by 15.85% to Rp91.29 billion from Rp108.49 billion, while other revenue dropped by 56.25% to Rp6.51 billion from Rp14.88 billion.

NETV's program and broadcast expenses in Q1 2022 also decreased by 38.51% from Rp80.56 billion to Rp49.53 billion. Finance costs fell by 29% to Rp24.22 billion from Rp34.09 billion.

Meanwhile, general and administrative expenses increased by 3.1% to Rp63.59 billion in Q1 2022 from Rp61.66 billion in the same period the previous year.

In Q1 2022, the company's total assets were recorded at Rp1.70 trillion. This figure increased slightly by 0.05% from the same quarter of the previous year.

Meanwhile, the company experienced a 4.11% decrease in total liabilities, from Rp1.72 trillion to Rp1.65 trillion. On the other hand, the company's total equity increased to Rp44.55 billion from -Rp27.46 billion.

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