JAKARTA - PT Semen Baturaja Tbk (SMBR)'s profits continue to show growth that exceeds its achievements before the COVID-19 pandemic. In the third quarter of 2023, this issuer's profit was recorded at IDR 53.95 billion.

In the Third Quarter 2023 Financial Report published on Monday (16/10), SMBR pocketed revenue of IDR 1.44 trillion, up from the same period in 2022 of IDR 1.31 trillion. Gross profit was IDR 464.59 billion, down from IDR 553.72 billion and operating profit IDR 143.99 billion, lower than IDR 167.02 billion.

Even though gross profit and operating profit were lower than the same period last year, this issuer's profit was higher than before, IDR 43.10 billion. This achievement was due to a decrease in financial expenses to IDR 69.28 billion from IDR 113.93 billion and an increase in profit before income tax of IDR 74.71 billion from IDR 53.09 billion.

SMBR sales to third parties contributed IDR 447.37 billion, down from IDR 1.29 trillion in the same period last year. Sales to third parties include, among others, cement sales of IDR 447.01 billion, transportation services IDR 172.65 billion, and others IDR 185.37 billion.

Meanwhile, sales to related parties jumped to IDR 974.14 billion from zero due to the previous unconsolidated relationship with PT Semen Indonesia (Persero) Tbk (SMGRI) as the parent company.

In the third quarter of 2019, SMBR's profit was recorded at IDR 22.72 billion, the same period in 2020 had a loss of IDR 112.60 billion, the third quarter of 2021 had a profit of IDR 16.62 billion, and the third quarter of 2022 recorded a profit of IDR 43.16 billion. (LK/LM)