Jakarta - PT Nusantara Infrastructure Tbk (META) recorded a significant decrease in profit for the year attributable to owners in 2021 by around 91.36%, to Rp5.989 billion in 2021 when compared to the previous year of Rp69.392 billion.

The company's financial report released on Wednesday (4/20) showed the low-profit achievement was caused by a 46.24% decline in META's revenue and sales to Rp844 billion from Rp1,570 trillion.

The cause of the decline in revenue and sales was a decrease in construction income and other operating revenues by 83.60% to Rp169 billion and 36.11% to Rp13,543 billion, respectively.

Financial income also shrank more than three times, or from Rp. 23,297 billion to Rp. 7,977 billion. Financial expenses more than doubled to Rp143.848 billion from Rp61.632 billion.

Nevertheless, META managed to reduce the direct costs and cost of goods sold by about three times, or from Rp1,232 trillion to Rp438,505 billion.