MAHKOTA GROUP (MGRO) REVENUE SKYROCKETED 88,14% (YOY) AS OF Q3-2021
01 November 2021
PT Mahkota Group Tbk (MGRO) posted revenue of IDR 4.76 trillion as of the third quarter of 2021. This amount increased 88.14% (yoy) compared to MGRO's revenue as of the third quarter of 2020 of IDR 2.53 trillion.
Based on financial reports on the Indonesia Stock Exchange (IDX), MGRO's revenue was dominated by sales of crude palm oil and its derivatives amounting to IDR 4.35 trillion as of the third quarter of 2021. Then followed by revenue from sales of palm kernel amounting to IDR 319.63 billion, sales of other palm products amounting to IDR 48.70 billion, tank rental service revenue of IDR 43.69 billion, and management service revenue of IDR 500 million.
MGRO's cost of revenue was recorded at IDR 4.17 trillion as of the third quarter of 2021 or jumped 71.60% (yoy) compared to cost of revenue as of the third quarter of 2020 of IDR 2.43 trillion. MGRO's operating expenses also shot up 419.24% (yoy) from IDR 91.36 billion as of the third quarter of 2020 to IDR 474.38 billion as of the third quarter of 2021.
MGRO achieved an operating profit of IDR 123.04 billion as of the third quarter of 2021 or an increase of 1,021.60% (yoy) compared to the company's operating profit as of the third quarter of 2020 of IDR 10.97 billion.
The net profit attributable to owners of the parent entity MGRO as of the third quarter of 2021 reached IDR 49.50 billion. Meanwhile, as of the third quarter of 2020, MGRO actually suffered a net loss of IDR 37.11 billion.
In the January-September 2021 period, MGRO had total assets of IDR 1.98 trillion. This figure increased 38.46% compared to MGRO's total assets as of the end of 2020 of IDR 1.43 trillion. MGRO has total liabilities or obligations of IDR 1.30 trillion as of the third quarter of 2021, while the company's total equity was recorded at IDR 674.93 billion.