JAKARTA – The profit of PT Clipan Finance Indonesia Tbk (CFIN) skyrocketed 571% in 2022, thanks to efficiency in its costs of revenue. The consumer financing segment was still the main contributor of the company’s revenue.

In the Financial Report of 2022 quoted Wednesday (8/3), Harjanto Tjitohardjojo, President Director of Clipan Finance Indonesia, claimed that the total revenue clocked up to IDR 1.50 trillion, climbing shyly from IDR 1.47 trillion in 2021. It mostly came from the consumer financing, generating IDR 1.03 trillion out of it.

The total expenses were also seen decreasing 22.06% year-on-year (yoy) to IDR 1.10 trillion from IDR 1.43 trillion in 2021. It then affected the profit before taxes, allowing it to significantly rise by 906.44% yoy from IDR 39.69 billion to IDR 399.50 billion.

After deducting the tax expenses of IDR 88.77 billion, CPFN recorded current year’s net profit of IDR 310.72 billion at the end of 2022, shifting from IDR 46.30 billion in 2021. (LK/ZH)