JAKARTA. PT Indonesia Kendaraan Terminal Tbk (IPCC) scored net profit of IDR 80.69 billion in the first half (H1) of 2024, up 2.24% year-on-year (yoy) from the same period last year.

At the top-line, IPCC’s operating revenue, in fact, declined 1.83% yoy to IDR 360.26 billion. However, the company semed to implement efficiency strategies in H1 2024, as reflected in general and administrative expenses that significantly decreased by up to 41.46% yoy, finance expenses by 50.2% yoy, and other operating costs by 5.6% yoy.

Terminal service was still the highest-contributing business line for IPCC’s total operating revenue in H1 2024, with IDR 340.97 billion. Goods service brought in revenue of IDR 5.89 billion, followed by miscellaneous services of IDR 4.9 billion, as well as land and utility development of IDR 8.5 billion.

According to IDNFinancials data, IPCC reported total assets of IDR 1.87 trillion as of June 30, 2024, while total equity reached IDR 1.19 trillion. (KR/ZH)