JAKARTA - PT Wintermar Offshore Marine Tbk (WINS) scored net profit attributable to the parent entity of USD 2.2 million in Q1 2024, skyrocketing as high as 1,126% year-on-year (yoy) from Q1 2023 from USD 180 thousand. This growth is further supported by a significant increase in gross profit in owned-vessel business line.

Based on the Financial Report Q1 2024 quoted Monday (29/4), the company booked revenue of USD 18.44 million, up 16.3% yoy from Q1 2023 of USD 15.85 million. Owned-vessel line contributed revenue of USD 13.98 million, increasing 44.6% yoy from USD 9.66 million, while chartering and other services turned in USD 3.04 million and USD 1.41 million, down 25.3% and 33% yoy from USD 4.08 million and USD 2.10 million.

The decline in contribution from chartering line was due to two chartered vessel that have now been acquired by the company, thus bringing the recorded revenue to owned-vessel line.

WINS’s gross profit reportedly grew 66.8% yoy to USD 5 million from USD 3 million, while its operating profit soared 71.7% yoy to USD 2.71 million from USD 1.57 million. Lastly, its net profit before taxes skyrocketed 229.9% yoy to USD 2.85 million from USD 864 thousand. (LK/ZH)