JAKARTA. PT Dharma Satya Nusantara Tbk (DSNG) scored net profit of IDR 504.34 billion throughout January-September 2023, declining 43.8% year-on-year (yoy).

Andrianto Oetomo, President Director of DSNG, said that this decrease resulted from swollen costs of sales, increasing 11% yoy to IDR 4.9 trillion in 9M 2023. Costs of sales in 9M 2022 was only IDR 4.44 trillion.

“The ongoing Russia-Ukraine war resulted in fluctuating fertiliser price. Throughout the first nine months this year, costs of sales rose 11% yoy,” Oetomo added in the information disclosure in Indonesia Stock Exchange (IDX).

On the other hand, DSNG’s revenue from wood products also shifted 33% yoy downwards to IDR 800 billion. This decline resulted from high interest rate in export countries, such as the US, Canada, Europe Union, and Japan.

Meanwhile, DSNG’s consolidated revenue reportedly climbed only 7% yoy to IDR 6.6 trillion. This increase is due to growth of Fresh Fruit Bunches (FFB) production of 7.5% yoy, as well as the increase of average selling price. (KR/ZH)