State-owned railway company PT Kereta Api Indonesia (KAI) booked net profit of Rp1.97 trillion in 2019, grew 28.6% from Rp1.53 trillion in 2018. Revenue declined 2.27% to Rp26.25 trillion but cost of revenues fell 6.69% to Rp19.69 trillion. Then gross profit rose 13.9% to Rp6.56 trillion from earlier Rp5.76 trillion. While operating expenses increased 21% to Rp3.34 trillion from Rp2.76 trillion. So operating profit only grew 6.7% to Rp3.2 trillion. KAI’s assets reached Rp44.9 trillion while liability amounted Rp25 trillion.
