State construction firm Adhi Karya (ADHI) booked a net profit of Rp23.7 billion only in 2020, dropping 96.5% from Rp665 billion in 2019, as revenue fell 26.6% to Rp10.83 trillion from Rp15.3 trillion previously. Gross profit fell 26% to Rp1.7 trillion, and operating profit declined 28.6% to Rp1 trillion. ADHI also recorded higher finance costs, reaching Rp794 billion, compared to Rp564 billion in 2019. Its share of profit of joint ventures dropped 54% to Rp156.8 billion.

To subscribe please click here