JAKARTA. PT Ultrajaya Milik Industry & Trading Company Tbk (ULTJ), a packaged milk and tea manufacturer, booked net profit of IDR 405.09 billion throughout the first quarter (Q1) of 2024.

ULTJ’s net profit in Q1 2024 was 14% year-on-year (yoy) higher than the same quarter last year, in which the company scored net profit of IDR 355.3 billion.

According to the recently released financial report, ULTJ’s net profit is in line with Q1 2024’s sales, which reached IDR 2.29 trillion. The sales grew 2.82% yoy from the same quarter last year.

Based on product segment, most of ULTJ’s sales in Q1 2024 came from beverage products, which contributed IDR 2.4 trillion, while food products only brought in IDR 19.05 billion.

Until March 31, 2024, ULTJ’s total assets were reported at IDR 7.97 trillion, with cash and cash equivalent of IDR 2.52 trillion. Meanwhile, total equity clocked up to IDR 7.09 trillion.

At yesterday’s (29/4) session, ULTJ’s price was closed at IDR 1,875 per share. Since the beginning of this year, it has reported 225-points or 13.64% increase. (KR/ZH)