Bloomberg Technoz, Jakarta – Issuer owned by Hary Tanoesoedibyo PT Media Nusantara Citra Tbk (MNCN) posted a profit of IDR 1.03 trillion throughout 2023, or a drop of 49.78% compared to the previous year which was valued at IDR 2.05 trillion.
Based on its financial report quoted on Tuesday (16/4/2024), the issuer which oversees the country’s well-known television media Rajawali Citra Televisi Indonesia (RCTI) also recorded a 16.4% decline in operating income to IDR 7.78 trillion from the previous IDR 9.06 trillion.
The decrease in income was caused by advertising revenue which also decreased to IDR 6.63 trillion from the previous IDR 7.82 trillion. Revenue through content and content distribution also fell to IDR 1.27 trillion from the previous IDR 1.79 trillion.
Apart from that, the company also recorded an increase in direct expenses to IDR 4.16 trillion from the previous year’s IDR 3.99 trillion.
The increase in direct expenses was also influenced by program and content expenses which also rose to IDR 3.78 trillion from the previous IDR 3.62 trillion. As a result, gross profit became IDR 3.6 trillion, or a decrease of 40.18% from the previous IDR 5.06 trillion.