JAKARTA - PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) recorded net profit of IDR 778.11 billion in Q3 2024, up 33% year-on-year (yoy) from IDR 586.57 billion seen in Q3 2023. This profit surge resulted from increased sales, optimised cost efficiency, as well as implementation of risk management amidst uncertain global condition.

In the press release quoted Thursday (24/10), this Indeks52 constituent is said to score net sales of IDR 2.63 trillion until Q3 2024, up 11% yoy from IDR 2.36 trillion seen in the same period in 2023. This achievement was made possible by higher number of sales in domestic and export markets.

This issuer also reported 17% yoy growth in gross profit to IDR 1.49 trillion in Q3 2024 from IDR 1.26 trillion in Q3 2023. It brought its gross profit margin up to 57%, higher from 54%.

This margin increase occurred following effective cost management, reduction of indirect production costs, and lower raw materials’ prices, especially in food and beverages segment.

Then, SIDO managed to record operating profit of IDR 969 billion in Q3 2024, up 32% yoy from IDR 735.37 billion seen in Q3 2023, bringing the margin up to 37% from 31%. (LK/ZH)