JAKARTA - Even though PT Samator Indo Gas Tbk (AGII)'s revenue rose slightly by 2.85%, its profit fell by 27.03% in the third quarter of 2024 from the same period in 2023. This decline in performance was influenced by an increase in selling and general expenses.

Based on the Financial Report for the Third Quarter of 2024 quoted on Thursday (31/10), this issuer's sales grew to IDR 2.12 trillion from IDR 2.06 trillion. Gross profit rose to IDR 955.14 billion from IDR 937.19 billion. The gross profit margin was 44.92%, lower than the gross profit margin for the same period in 2022 which was around 45.32%.

Meanwhile, operating profit was recorded at IDR 318.75 billion, down from IDR 355.71 billion, which was due to an increase in selling expenses, general and administrative expenses, and financial expenses. Net profit was recorded to have fallen to IDR 80.97 billion from IDR 110.97 billion.

In terms of sales, Gas Products contributed IDR 1.98 trillion in revenue, up from IDR 1.92 trillion, and Services and Equipment sales contributed IDR 143.95 billion, down from IDR 145.89 billion.

Sales of Gas Products reached 93% of AGII's total net sales and the remaining 7% of sales were to related parties. This sales percentage is similar to the same period last year. (LK/LM)