IDX-listed investment firm PT Saratoga Sedaya Investama Tbk (Saratoga) has recorded an 81% decline in profit for the financial year that ended December 31, 2022, despite booking an increase in net asset value (NAV), according to its disclosure with the local exchange.
Saratoga posted a net profit of 4.6 trillion rupiah ($300 million) for the financial period ended on Dec 31, 2022, down 81% from 25 trillion rupiah ($1.62 billion) in the same period in 2021 mainly on account of a fall in investment gains.