Mar 21, 2012

Garuda turns profit in operation

Indonesia flag carrier PT Garuda Indonesia Tbk (GIAA) turns profit in operational last year from an operating loss in 2010. Garuda recorded a 1,606.45% jump in operating profit to Rp1.01 trillion from operating loss of Rp67.16 billion.
The operating profit was underpinned by a 39.07% increase in operating revenue to Rp27.16 trillion from Rp19.53 trillion. The biggest contributor for Garuda's revenue was the scheduled flight that rose to Rp22.63 trillion from Rp15.92 trillion.
Garuda booked a 56.26% in net profit to Rp805.53 billion from Rp515.52 billion.

Disclosure: No position at the stock mentioned above.

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