JAKARTA – The profit of PT BISI Internasional Tbk (BISI) soared 88.25% year-on-year (yoy) in H1 2024 although its revenue sloped 4.62% yoy from the same period last year. Its profit growth resulted from efficiency of costs of sales.

Based on Financial Report of H1 2024 quoted today (6/8), this Indeks52 constituent’s sales were recorded at IDR 713.51 billion, down from IDR 748.08 billion.

Its gross profit, however, increased 14.16% yoy from IDR 302.01 billion seen in H1 2023, resulted from decreased costs of sales. It then booked gross profit margin of 48.32%, improving from 40.37% seen in H1 2023.

Furthermore, its operating profit was seen at IDR 121.95 billion, soaring even higher, 148.24% yoy from IDR 49.12 billion. Profit before taxes also grew 93.64% yoy to IDR 139.10 billion from IDR 71.96 billion. Lastly, net profit nearly doubled to IDR 113.44 billion from initially IDR 60.25 billion.

The highest contribution of sales came from seeds segment, which generated IDR 353.59 billion, increasing from IDR 311.18 billion. It was then followed by pesticide and fertiliser sales that slipped to IDR 346.59 billion from IDR 424.75 billion, while others’ sales increased to IDR 11.18 billion from IDR 6.19 billion. (LK/ZH)