JAKARTA – The net profit of PT Garuda Maintenance Facility Aero Asia Tbk (GMFI) soared 556.19% year-on-year (yoy) in the first half (H1) of 2024 compared to the same period in 2023. The surge aligns with 30.12% yoy growth in revenue in H1 2024.

Based on Financial Report of H1 2024 quoted Friday (13/9), its revenue was reported at USD 216.47 million at the end of June 2924, soaring from USD 166.90 million seen in H1 2023.

The revenue consisted of income from reparation and overhaul segment of USD 167.68 million, which increased from USD 130.82 million; maintenance segment of USD 38.31 million, also improving from USD 26.15 million; and other operations of USD 10.47 million that shifted up from USD 9.93 million.

Profit before taxes in H1 2024 also saw an increase from USD 5.22 million to USD 13.28 million, boosting its net profit to USD 13.30 million, increasing over sixfold from USD 2.02 million. (LK/ZH)