PT Adhi Karya (Persero) Tbk recorded a decrease in profit attributable to parent entity owners throughout 2020 of around 96.38% to Rp23.976 billion from the previous year, reaching Rp663.806 billion.

Based on ADHI's financial report published on Tuesday (6/4),  a weakening operating income of around 29.26%, to Rp10.827 trillion from Rp15.307 trillion, suppressed the profit. 

The share of joint venture profits also more than doubled or from Rp340.163 billion to only Rp156.794 billion. Financial expenses increased by around 40.92% to Rp794.518 billion from Rp563.790 billion.

However, the company managed to reduce the cost of revenue by around 29.91% to Rp9.091 trillion from Rp12.971 trillion. Operating expenses also decreased by 15.34%, from Rp859.576 billion to Rp727.680 billion. ADHI was also able to reduce associates' loss by twofold or to Rp865,916 million from Rp1,697 billion.

Until the period ending December 2020, ADHI's total assets were at Rp38.093 trillion, consisting of Rp32.519 trillion in liabilities and Rp5.574 trillion in equity. Meanwhile, the position of year-end cash and cash equivalents was around Rp2.363 trillion.