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LISTED COMPANY - JAKARTA. PT Summarecon Agung Tbk, also known as SMRA, reported a net income of IDR 2.13 trillion in the first quarter of 2024. This represents a year-on-year increase of 42.30%, up from IDR 1.49 trillion.
According to financial reports, Summarecon Agung saw an increase in both revenue and profit in the first three months of 2024.
In detail, the property development segment contributed the majority of the revenue, amounting to IDR 1.44 trillion. This was followed by the investment property segment with IDR 479.83 billion and other segments with IDR 212.30 billion.
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The cost of goods sold and direct expenses were recorded at IDR 1.03 trillion in the first quarter of 2024, down from IDR 725.86 billion in the same period last year.
As a result, gross profit stood at IDR 1.09 trillion at the end of March 2024, a 42.2% year-on-year increase from IDR 773.47 billion.
Summarecon Agung also reported a net income attributable to the parent entity of IDR 441.39 billion in the first quarter of 2024.
This profit represents a 62.40% increase from IDR 283.87 billion in the first quarter of 2023.
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The total assets of SMRA stood at IDR 31.83 trillion at the end of March 2024, a slight increase from IDR 31.16 trillion in the same period last year.
SMRA's total liabilities were IDR 19.10 trillion in the first quarter of 2024, up from IDR 18.86 trillion in the same period last year.
Meanwhile, total equity was IDR 12.72 trillion, up from IDR 12.30 trillion in the first quarter of 2023.
As of March 31, 2024, SMRA's cash and cash equivalents at the end of the period were IDR 3.38 trillion. This is a slight increase from IDR 3.26 trillion as of March 31, 2023.
