MDIA Records 87.6% Decline in Profit

By Editorial Team 12/08/2019
Summary

PT Intermedia Capital Tbk (MDIA) recorded a 28.9 percent decline in revenue to Rp 756 billion. VIVA's revenue dropped this year due to decreased advertising revenue and the absence of non-advertising revenue.

This decline in performance made the Bakrie subsidiary's profits declined 87.6 percent to Rp 28.01 billion. The significant decrease in profit was due to the company’s operating expenses that did not drop significantly despite declining revenue. The increases in tax expenses and penalties along with interest expenses and consumer financing obligations became a burden for MDIA’s performance.

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