JAKARTA - PT Astra Otoparts Tbk (AUTO) bagged net profit of IDR 1.01 trillion in the first half of 2024, up 26.46% year-on-year (yoy) from IDR 801.55 billion seen in H1 2023.

This Indeks52 constituent reported profit growth resulting from increased finance income and other income.

In the Financial Report of H1 2024 quoted Wednesday (7/8), Hamdhani Dzulkarnaen Salim, President Director of AUTO, mentioned that the company’s revenue hit IDR 9.19 trillion, sloping from IDR 9.38 trillion.

Then, gross profit in H1 2024 followed the trend, shrinking to IDR 1.43 trillion from IDR 1.48 trillion, thus bringing down the margin as well, to 15.59% from 15.80% seen in H1 2023.

Profit before taxes, however, increased to IDR 1.20 trillion from IDR 1.02 trillion. The increase could be traced back to decreased general and administrative expenses, increased gains from associates and joint ventures, finance income, and other income.

AUTO’s revenue came from local sales to third parties of IDR 5.59 trillion, up from IDR 5.55 trillion, as well as export sales that went up to IDR 819.01 billion from IDR 530.80 billion. Then, sales to related parties also slipped from IDR 3.50 trillion to IDR 3.06 trillion. (LK/ZH)