EMTK Rebounds from Losses, Achieves Rp259 Billion Profit in Q1 2024

Technology & Telecommunications

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Nabilah Muhamad 07/05/2024 18:22 WIB

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PT Elang Mahkota Teknologi Tbk (EMTK) reported a net profit of Rp259.39 billion in the first quarter of 2024. This is a turnaround from the first quarter of last year, when they recorded a loss of Rp3

EMTK (PT Elang Mahkota Teknologi Tbk) Revenue and Profit, Q1 2023-2024

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EMTK Rebounds from Losses, Achieves Rp259 Billion Profit in Q1 2024

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EMTK (PT Elang Mahkota Teknologi Tbk) Revenue and Profit, Q1 2023-2024

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PT Elang Mahkota Teknologi Tbk (EMTK) reported a net profit attributable to the parent entity of Rp259.39 billion in Q1 2024. This is a turnaround from Q1 of the previous year, when they recorded a net loss of Rp330.99 billion.

EMTK's positive performance in Q1 2024 was supported by a 13.22% year-on-year (yoy) increase in net revenue to Rp2.48 trillion.

EMTK's revenue primarily stemmed from the advertising segment, reaching Rp1.46 trillion. Further revenue came from the healthcare and hospital services segment (Rp592.92 billion); VSAT services, repair, maintenance, and technical support (Rp77.84 billion); goods sales (Rp44.27 billion); and other revenue (Rp304.61 billion).

However, EMTK's revenue increase was offset by a 14.53% yoy increase in cost of revenue to Rp1.69 trillion.

As of March 31, 2024, EMTK's total assets reached Rp42.98 trillion, a slight 0.19% yoy increase from Rp42.89 trillion at the end of December 2023.

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."