Jakarta - PT Matahari Department Store Tbk (LPPF) posted a net profit of Rp438 billion during the January-September 2021 period from a loss of Rp617 billion in the same period last year.

This achievement was supported by a 23% increase in net income to Rp4.1 trillion from Rp3.3 trillion.

The cost of revenue was able to slow down by around 8.55% to Rp1.484 trillion from Rp1.367 trillion.

"Matahari temporarily closed 117 of its outlets due to the emergency community activity restriction PPKM and 31 outlets still not with some restrictions. PPKM is still continuing in August, but with some positive developments every week," said the company in a press release on Wednesday (3/11).

In early September, Matahari opened 100% of its stores and continues to experience a positive recovery week by week. This continued in October, with recovery reaching over 70% compared to 2019.

Meanwhile, the total assets of LPPF until the period endi