JAKARTA. PT Panin Financial Tbk (PNLF), a subsidiary of PT Paninvest Tbk (PNIN) engaged in business consultancy and management service, booked net profit of IDR 418 billion in Q1 2024.

PNLF’s net profit in Q1 2024 increased 25.38% year-on-year (yoy) from the same quarter last year. Based on the issued financial statement, net profit of PNLF in Q1 2023 reached IDR 331 billion.

PNLF’s profit surge in Q1 2024 is made possible by its business performance, which reportedly booked revenue of IDR 3.63 trillion. The revenue in this term shifted 5.40% yoy from IDR 3.44 trillion seen in the same quarter last year.

PNLF’s revenue in Q1 2024 was supported by its net interest income of IDR 2.26 trillion and other income of IDR 495 billion. Its net interest income was actually corrected 4.08% yoy, but other income soared 35.62% yoy.

Until the end of March 2024, PNLF’s total assets were recorded at IDR 234.73 trillion, while total equity was similarly recorded at IDR 234.73 trillion. (KR/ZH)