PT Diamond Citra Propertindo Tbk (DADA) had a quite good performance in 2020 even though the company's revenue fell, but DADA managed to record a sharp increase in net profit.

Based on the company's financial statements, DADA's revenue was Rp92.79 billion at the end of 2020. This number decreased 17.51% YoY compared to 2019's revenue of Rp112.48 billion.

DADA's largest revenue contribution came from the sales of the Dave apartment unit, which reached Rp. 48.23 billion and the Apple Residence unit, which reached Rp. 48.44 billion.

With the declining revenue, DADA seems to have succeeded in reducing the cost of revenue by 43.3% YoY from Rp88.51 billion to Rp50.18 billion last year. As a result, the property developer's gross profit rose from Rp24 billion to Rp42.62 billion.

Thus, even though operating expenses increased by 37.94% from Rp14.05 billion to Rp23.24 billion, DADA's net profit was not under p