Xolare RCR Energy Tbk (SOLA), a company engaged in asphalt manufacturing and trading, booked a loss of IDR 4.19 billion in the first half of 2024.
It is in contrast with SOLA’s record in H1 2023, in which the company managed to score net profit of IDR 682.96 billion. In 2023, the company also recorded net profit of IDR 55.97 billion.
From the top line, SOLA was seen reporting revenue of IDR 33.09 billion throughout H1 2024, reportedly increasing 71.8% year-on-year (yoy) from the same period last year, in which the company booked revenue of IDR 19.26 billion.
It is worth mentioning that SOLA is a company initially listed on the board on May 8, 2024. However, since its debut on the stock exchange until today’s (5/8) closing bell, the stock price plummeted 66.22% to IDR 50 per share. (KR/ZH)