JAKARTA. PT Uni-Charm Indonesia Tbk (UCID) managed to boost its net profit by up to 38.6% year-on-year (yoy) at the end of 2023 to IDR 434.57 billion although its revenue was corrected 0.7% yoy.

According to financial data of IDNFinancials, UCID’s net profit increase in 2023 was supported by efficiency in cost of revenue, reaching 2.4% yoy to IDR 8.22 trillion. In 2022, the company’s cost of revenue was recorded at IDR 8.43 trillion.

In addition, the company managed to shrink financial expenses by up to 13.8% yoy in 2023 to IDR 20.35 billion. Not only that, UCID secured gains from foreign exchange of IDR 11.36 billion in 2023, while in 2022, the company must deal with foreign exchange loss of IDR 8.72 billion.

For the record, UCID is a manufacturer of baby care, feminine care, and healthcare products. Most of the revenue in 2023 came from diapers, hitting IDR 7.99 trillion, followed by non-diaper products of IDR 2.26 trillion.

UCID’s sales in diapers segment in 2023 was corrected 3.23% yoy, while sales of non-diaper products were down 9.5% yoy. (KR/ZH)