Jakarta - PT Bakrieland Development Tbk (ELTY) managed to reduce the current year's loss attributable to owners throughout 2020 by around 66.36% to Rp240.639 billion from the previous year's Rp715.447 billion.

Based on the company's financial report released on Monday (8/11), ELTY's ability to reduce the loss rate was supported by the lower cost of revenue of around 29.50% to Rp429.619 billion from Rp609.406 billion.

Other net expenses also decreased by around 93.35%, or from Rp272,943 billion to Rp18,124 billion.

ELTY's net income, however, decreased by around 36.96% or from Rp977.548 billion to Rp616.211 billion.

Meanwhile, ELTY's total assets as of the end of 2020 were at Rp11,823 trillion, with a cash and cash equivalent position at the end of the year amounting to Rp46,691 billion.