JAKARTA. PT Mustika Ratu Tbk (MRAT), a cosmetic and body care product manufacturer, scored net profit of IDR 302.19 million in the first half (H1) of 2024.

Said number was far higher compared to the net profit recorded in H1 2023, which only reached IDR 37.29 million.

In fact, seen at the top-line, MRAT reported sales of only IDR 169.34 billion. Its net sales in this period only slightly increased 0.3% year-on-year (yoy) from the same semester last year.

However, in terms of operational activities, MRAT has seemingly succeeded in cutting costs, as seen from decreased selling expenses by up to 3.3% yoy to IDR 49.7 billion. Then, general and administrative expenses also shrank 11.2% yoy to IDR 22.1 billion, while finance costs were cut by 5.9% yoy to IDR 6.5 billon.

In addition, MRAT also gained a portion from foreign exchange worth IDR 692.02 million in H1 2024. Then, finance income was recorded at IDR 2.51 billion.

As of June 30, 2024, MRAT’s total assets were at IDR 614.56 billion, with total equity clocking up at IDR 401.25 billion. (KR/ZH)