JAKARTA – Supported by revenue surge, PT Mutuagung Lestari Tbk (MUTU) booked net profit of IDR 4.39 billion at the end of March 2024, or up 34.66% year-on-year (yoy).

MUTU’s revenue was seen increasing evenly in all business lines, enabling the company to score revenue growth of 17.4% yoy to IDR 60.5 billion as of Q1 2024.

MUTU is known as a company engaged in the TIC (testing, inspection, and certification) service. Until the end of Q1 2024, certification still dominated the revenue composition, scoring IDR 23.47 trillion or up 18.54% yoy.

Other segments also further drove MUTU’s revenue growth, including testing segment that shifted 12.32% yoy upwards to IDR 19.77 billion, as well as inspection and surveyor line that soared the farthest, up 22.18% yoy to IDR 17.27 billion.

With this revenue increase, MUTU’s net profit was further boosted, skyrocketing 34.66% yoy to IDR 4.39 billion until March 2023.

In the future, the management of MUTU revealed that the company will develop additional TIC schemes, with the hope of bagging higher revenue.

“Because these schemes are related to market demand, country regulation, etc. Thus, we will continue to push forward the development of our schemes in the future,” said Irham Budiman, Director of MUTU, when met at 2024 Annual Public Expose of MUTU today (26/6).

Budiman also mentioned that in addition to diversification of TIC schemes, MUTU also intends to expand its network and service scope to East Indonesia, as well as seeking cooperation opportunities with international certification agencies, including the ones from South Korea, Vietnam, and Turkiye. (ZH)