JAKARTA. The net profit of PT Gema Grahasarana Tbk (GEMA), an interior contractor company under Vivere Group, reported net profit of IDR 2.16 billion in the first quarter (Q1) of 2024.

This net profit grew 36.4% year-on-year (yoy) or from the same quarter last year, in which GEMA only managed to score IDR 1.58 billion of profit. According to the recently released financial report, the company’s profit growth is in line with the revenue that soared 25.4% yoy to IDR 341.68 billion.

GEMA’s highest revenue in Q1 2024 came from interior, furniture, mechanic and electricity business line, which generated IDR 186.96 billion. Meanwhile, the remaining revenue was brought in by distribution and wholesale business, seen at IDR 154.73 billion. Revenue growth of both segments in Q1 2024 reportedly arrived at 34% and 16% yoy, respectively.

According to IDNFinancials data, as of now, 74.74% of GEMA is under the control of PT Virucci Indogriya Sarana. Then, another 0.57% belong to Dedy Rochimat, while another 24.69% are shared amongst retail investors, with portions of less than 5% each. (KR/ZH)