Jakarta - PT Gajah Tunggal Tbk (GJTL), until the first semester of 2022, recorded a loss attributable to the owner of Rp63.88 billion, compared to the same period the previous year, which earned a profit of Rp98.17 billion.

The financial report released Monday (7/25) showed the loss was triggered by a net loss of associates and joint ventures of Rp52.51 billion from previously pocketing a profit of Rp12.84 billion.

Other profits quadrupled to Rp11.89 billion from Rp41.07 billion.

On the other hand, selling expenses also jumped by around 14.38%, to Rp436.09 billion from Rp381.24 billion.

However, the company was able to increase net sales by around 14.14%, to Rp8.28 trillion, from Rp7.26 trillion.

Until the end of June 2022, the company's total assets reached Rp19.3 trillion, with Rp6.96 trillion in equity and Rp12.34 trillion in liabilities.