Prajogo Pangestu Issuer CDIA Posts Profit of Rp142.37 Billion in Q1/2026 - Market
PT Chandra Daya Investasi Tbk (CDIA), an issuer associated with Prajogo Pangestu, recorded a net profit of US$8.40 million, equivalent to Rp142.37 billion (at an exchange rate of Rp16,949), in the first quarter of 2026. Although revenue grew by double digits, the company’s profit was pressured by surges in various expense items.
According to the unaudited first-quarter 2026 financial report, CDIA booked revenue of US$41.24 million, a 19.1% increase year on year (YoY). The majority of revenue segments saw growth, such as electricity sales and other electrical services, which rose 7.7% YoY to US$22.77 million, and ship chartering services, which increased 44.7% YoY to US$13.88 million.
Meanwhile, the warehouse rental revenue segment and other services segment recorded US$0.41 million and US$0.39 million, respectively. These two segments had not yet generated revenue in the first quarter of 2025. On the other hand, the fuel sales segment dipped slightly by 0.4% YoY to US$2.55 million, while the tank and jetty rental segment fell 8.2% YoY to US$1.23 million.
The cost of revenue rose 22.5% YoY to US$31.16 million. From this, CDIA’s gross profit still grew 9.3% YoY, from US$9.21 million to US$10.07 million.
In the first quarter of 2026, the company also recorded increases in several expense items, such as selling expenses, which rose 6.1% YoY to US$0.35 million, general and administrative expenses, which increased 37.4% YoY to US$4.92 million, and financial expenses, which surged 64.1% YoY to US$10.19 million.
After deducting gross profit by various expense items and other income, CDIA achieved a profit for the year of US$9.48 million. This figure was already down 68.6% YoY compared to the first quarter of 2025 performance of US$30.23 million.
From the bottom line perspective, the profit for the year attributable to the owners of the parent entity, or net profit, was recorded at US$8.40 million. The net profit earned by CDIA shrank 70.2% YoY from the previous year’s period net profit of US$28.17 million.
Looking at the balance sheet, CDIA’s assets as of the end of March 2026 rose 9% year to date (YtD) to US$1.90 billion. The company’s total liabilities increased 26.1% YtD to US$766.44 million, while total equity declined 0.1% YtD to US$1.13 billion.