JAKARTA – The performance of PT Pyridam Farma Tbk (PYFA) declined throughout 2023 compared to 2022. This company recorded a loss of IDR 85.22 billion, down 130.96% year-on-year (yoy) from IDR 275.24 billion in 2022.

In the 2023 Financial Report quoted Friday (15/3), the loss resulted from decreased sales, other income, and financial income. The revenue indeed slowed down by 1.86% yoy to IDR 702.06 billion from the previous IDR 715.42 billion.

In 2023, pharmaceutical product sales of this company were dominated by the domestic market. Pharmaceutical product and medical device sales in the domestic market, before discount and returns, were reported at IDR 861.83 billion, while pharmaceutical product exports reached IDR 1.73 billion.

In 2022, pharmaceutical product and medical device sales, before discount and returns, in the domestic market were reported at IDR 847.72 billion, while pharmaceutical product exports reached IDR 1.07 billion.

The company booked gross profit growth of 17.72% yoy to IDR 295.31 billion from the previous IDR 250.58 billion. Gross profit margin was at 42.06%, higher than the previous 35.06%.

The operating profit was recorded at IDR 1.87 billion, dropping 99.45% yoy from IDR 345.85 billion. This decline resulted from decreases in gains from fixed asset divestment, gains from foreign exchange, and other income. (LK/ZH)