JAKARTA - PT Citra Development Tbk (CTRA), a housing developer, posted net profit of IDR 1.27 trillion until the third quarter (Q3) of 2024, up 8.12% year-on-year (yoy) from IDR 1.18 trillion in September (9M) 2023.

Based on Financial Report of Q3 2024 quoted Thursday (31/10), CTRA’s net profit seemingly goes hand-in-hand with 8.01% yoy revenue surge to IDR 7.11 trillion from IDR 6.58 trillion recorded in the same period last year.

The revenue came from real estate segment of IDR 5.40 trillion and leases of IDR 1.09 trillion. For comparison, real estate segment as of September 2023 brought in income of IDR 5.08 trillion, followed by leases of IDR 1.01 trillion.

Gross profit was recorded at IDR 3.42 trillion in September 2024, up from IDR 3.12 trillion in 9M 2023, driving its margin up to 48.06% from 47.35%. Then, its operating profit also reportedly increased to IDR 2.05 trillion from IDR 1.99 trillion.

CTRA recorded total assets of IDR 46.51 trillion as of September 2024, up from IDR 44.11 trillion, with total liabilities worth IDR 22.97 trillion, also increasing from IDR 21.49 trillion. (LK/ZH)