PT Kota Satu Properti Tbk managed to record a decrease in operating losses before tax of Rp. 9.26 billion in the third quarter of 2021. According to the Director of Kota Satu Properti, Hanna Priscilla R, the decrease in losses was Rp. 1 billion in the same period in 2020 which reached Rp. 10, 16 billion and reached 50 percent of the total loss in December 2020 which reached Rp. 18.33 billion.
“The decrease in losses in 2021 is because the company has succeeded in emphasizing operating expenses by 50 percent, which is Rp. 9 billion from Rp. 18 billion in the same period. The Company managed to record a decrease in operating losses before tax of Rp. 9 billion or 50 percent of the loss in December 2020,” explained Hanna when presenting to the public virtually, Tuesday (12/14/2021).
The assets of PT Kota Satu Properti Tbk were recorded at Rp. 268.37 billion in the third quarter of 2021. This total has decreased compared to the same period in 2020 which reached Rp. 275.69 billion. The hotel management division recorded a decrease of Rp. 679.61 million in 2021, from a total of Rp. 1.39 billion in the same period in 2020. Likewise, real estate has decreased from a total of Rp. 10.15 billion in 2020 to Rp.6.35 billion in 2021. However, Hanna said that hotel revenues in the third quarter of 2021 have increased compared to the same period in 2020. In 2020, hotel revenues reached Rp. 5.68 billion increased to Rp. 6.08 billion in 2021.
