JAKARTA. PT Zyrexindo Mandiri Buana Tbk (ZYRX) booked a net profit of IDR 1.72 billion in the first quarter of 2023, 49% year-on-year (yoy) lower than the net profit obtained in the same quarter last year.

ZYRX’s net sales in Q1 2023 actually increased 6.6% yoy to IDR 58.93 billion. In Q1 2022, its net sales were seen arriving at IDR 55.27 billion.

Looking at its product segments, most of the net sales of ZYRX in Q1 2023 came from IT products, generating sales of IDR 48.54 billion. Then, the computation devices brought in IDR 10.09 billion of sales, while other products’ sales were IDR 299.16 million.

According to the currently released financial report, ZYRX’s profit shrinkage in Q1 2023 resulted from increases in expenses, including its selling and marketing expenses, general expenses, and operating expenses. One of the quite significant surges were the foreign exchange loss that reached IDR 5.6 billion in Q1 2023, when it was only IDR 30.84 billion in Q1 2022.

Until March 31, 2023, ZYRX recorded cash and bank of IDR 84.53 billion, total assets of IDR 564.42 billion, and total equity worth IDR 269.98 billion. (KR/ZH)