JAKARTA. PT Dharma Polimetal Tbk (DRMA), an automotive component manufacturer only scored net profit of IDR 412.07 billion within the first nine months (9M) of 2024.

The number saw a 20.7% year-on-year (yoy) drop from the same period last year, in which DRMA managed to bring in profit of IDR 519.41 billion.

According to the recently released financial report, DRMA’s net profit decline is in line with its net sales that only arrived at IDR 4.02 trillion in 9M 2024. Sales in this period also slipped 5.3% yoy from IDR 4.25 trillion recorded in the same period last year.

However, the management of DRMA mentioned that the company’s performance in Q3 this year had shown improvement from Q2. It could be indicated through Q3 2024’s sales that went up 20.3% quarter-to-quarter (qoq) from Q2 2024.

“It is worth being grateful that even though the automotive industry is still in a difficult situation, in the third quarter the Company's performance has shown significant improvement compared to the second quarter,” said Irianto Santoso, President Director of DRMA.

Santoso also mentioned that the company hopes that the new term of Indonesian government will provide fresh air for national automotive industry, thus allowing the company to benefit further. (KR/ZH)