Revenue Rises, Total Bangun Persada (TOTL) Profits Surge 77.60% in Q1-2024

May 05, 2024, 11.41 PM | Reporter: Vina Elvira

ILUSTRASI. Project Director Orange County Chung Huang (kiri)?mendengarkan penjelasan para manajer proyek dari?PT Total Bangun Persada Tbk dan?PT Kajima Indonesia tentang progres pembangunan Orange County di Lippo Cikarang, Jawa Barat, Rabu (8/3). Orange County adalah proyek pembangunan mega konstruksi?yang?dilengkapi dengan pusat bisnis, pusat perbelanjaan dan menara apartemen. Saat ini, enam?menara apartemen telah dipasarkan dan 5 menara terjual seluruhnya. Newport Park Apartment yang merupakan menara apartemen keenam telah terjual sebesar 87%. KONTAN/Carolus Agus Waluyo

LISTED COMPANY - JAKARTA. PT Total Bangun Persada Tbk, a construction issuer (TOTL), has reported its Q1 2024 performance with a business revenue of IDR 818.87 billion. This represents an increase compared to the same period in the previous year.

According to Total Bangun Persada's financial report, TOTL's business revenue grew by 32.31% year on year (yoy) to IDR 818.87 billion in Q1 2024, up from IDR 618.86 billion in Q1 2023.

The revenue is still dominated by construction service income, which stands at IDR 813.82 billion. Other revenues were recorded at IDR 5.05 billion.

The increase in revenue led to a 29.21% increase in Total Bangun Persada's cost of revenue, from IDR 531.51 billion in the first quarter of 2023 to IDR 686.81 billion in the first quarter of this year.

Similarly, Total Bangun Persada's gross profit also surged by 51.18% yoy to IDR 132.05 billion.

At the same time, TOTL recorded general and administrative expenses of IDR 53.62 billion, a 32.09% yoy increase from IDR 40.59 billion in the same position last year.

As of March 2024, the net profit attributable to the parent entity, or TOTL's net profit, soared by 77.60% yoy to IDR 52.71 billion. Previously, Total Bangun Persada's net profit was IDR 29.68 billion.