Jakarta - PT Modernland Realty Tbk (MDLN) managed to reduce the net loss for the current year 2021 by around 65.79% to Rp460 billion from the previous year, Rp1,345 trillion.

The company's financial report released on Thursday (7/4) showed that the decrease in losses was supported by MDLN's higher net income of around 22.59% to Rp578.193 billion from Rp471.632 billion.

However, the revenue cost increased by approximately 31.03% to Rp263.857 billion from Rp201.370 billion.

The operating loss was reduced by 91.45% to Rp78,894 billion from Rp923.1 billion.

Until the period ending December 2021, MDLN's total assets reached Rp. 14,886 trillion, with liabilities of Rp11.129 trillion and equity of Rp3.756 trillion.

Meanwhile, the position of cash and cash equivalents at the end of the year was Rp129.559 billion.