JAKARTA - PT Dharma Polimetal Tbk (DRMA), an automotive spare part and component manufacturer, reported skyrocketing net profit in 2023, soaring 57.6% year-on-year (yoy) to IDR 625.5 billion pada Desember 2023.

This impressive shift in profit was mainly supported by its revenue increase, shifting as high as 45% yoy to IDR 5.54 trillion as of December 2023. In 2022, the revenue only clocked up to IDR 3.9 trillion.

In 2023, domestic sales still dominated DRMA's sales by a landslide, generating IDR 5,54 trillion, while export sales only brought in IDR 362 million. PT Astra Honda Motor is listed as the only third-party customer with contribution over 10% to total sales, amounting to IDR 2,49 trillion.

Despite its impressive financial performance, DRMA had not shown great stock performance. Yesterday (4/3), DRMA's stock was closed at IDR 1,210 per share. Since the beginning of this year, the stock price has reportedly declined 21.86% or 305 points. (ZH)