JAKARTA – The net loss of PT Pyridam Farma Tbk (PYFA) worsened 155.79% year-on-year (yoy) in the first half of 2024 compared to the same period in 2023 although sales growth reached 29.87% yoy. Its profit decline resulted from increased operating expenses.

Based on Financial Report of H1 2024 quoted today (5/8), sales were reported at IDR 407.32 billion, up from IDR 313.61 billion seen in H1 2023. Thus, gross profit also jumped slightly from IDR 136.98 billion to IDR 146.84 billion.

However, PYFA reported loss at the end due to increases in expenses, including selling and marketing expenses, general and administrative expenses, losses on foreign exchange, and other losses.

The segment that mostly supported total domestic sales of this company is pharmaceutical, aesthetic, and toll manufacturing service, medical equipment, and other products of IDR 500.57 billion, while for the export sales, pharmaceutical products brought in IDR 2.6 billion.

In the first half of 2024, users with contribution to total sales of over 10% were PT Sapta Tari Tama with IDR 59.12 billion of sales, PT Anugrah Pharmindo Lestari IDR 49.55 billion, and PT Penta Valent Tbk IDR 37.01 billion. (LK/ZH)