JAKARTA - PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) reported growth throughout Q1 2024 compared to the same quarter of 2023. The revenue and profit each scored growth of 16.09% year-on-year (yoy) and 30.04% yoy.

Based on Financial Report of Q1 2024 quoted Thursday (25/4), SIDO reported sales of IDR 1.05 trillion, up from IDR 907.30 billion in 2022.

The most extensive contribution came from herbal medicine and supplement products, generating sales of IDR 626.88 billion, increasing from IDR 553.26 billion. It was then followed by food and beverage products of IDR 396.11 billion, which rose from IDR 220.75 billion, and other products of IDR 30.42 billion, growing from IDR 23.28 billion.

SIDO’s gross profit went up 29.37% year-on-year (yoy) to IDR 625.11 billion from IDR 483.19 billion. Gross profit margin then arrived at 59.34% from 53.25% in Q1 2023.

In addition, SIDO also reported operating net profit of IDR 491.43 billion, a 32.98% yoy increase from IDR 369.53 billion. The profit before taxes shifted 32.16% upward to IDR 502.53 billion from IDR 380.22 billion, while the current year’s net profit grew to IDR 390.49 billion from IDR 300.27 billion. (LK/ZH)