JAKARTA. PT Samator Indo Gas Tbk (AGII), a gas supplier for industrial needs, booked net profit of IDR 38.55 billion in the first quarter (Q1) of 2024, down 8.17% year-on-year (yoy) or from the same period last year.

In fact, in the top-line, AGII’s sales shifted 1.97% yoy upwards to IDR 691.78 billion in Q1 2024 from IDR 678.44 billion seen in the same quarter last year.

Sales growth is supported by its gas products’ sales that reached IDR 651.84 billion in Q1 2024, increasing 5.94% yoy. Meanwhile, service and equipment sales were reported declining 37.08% yoy to IDR 39.72 billion.

In addition, AGII’s costs of sales in Q1 2024 swelled 1.52% yoy to IDR 370.41 billion. Furthermore, selling expenses went up 4.34% yoy to IDR 121.02 billion, as did general and administrative expenses by 3.91% yoy to IDR 79.11 billion.

In the meantime, other income of AGII in Q1 2024 slipped 83.87% yoy to IDR 1.05 billion, followed by financial income that was corrected 32.48% yoy to IDR 6.09 billion.

Until March 31, 2024, AGII’s total assets were reported at IDR 7.93 trillion, up 1.80% yoy, and its total equity also shifted 1.07% to IDR 3.77 trillion. (KR/ZH)