JAKARTA. PT Semen Indonesia (Persero) Tbk (SMGR), a cement manufacturer primarily owned by the Indonesian government, booked net profit of IDR 719.72 billion within the first nine months (9M) of 2024.

Said number dropped 58% year-on-year (yoy) from the same period last year, in which SMGR managed to bring in net profit of IDR 1.71 trillion.

Within 9M 2024, SMGR actually recorded revenue to IDR 26.29 trillion, slipping only 4.9% yoy lower from the same period last year, in which it managed to collect revenue of IDR 27.66 trillion.

Although the revenue was slightly corrected, the cost of goods sold of SMGR also increased 0.3% yoy to IDR 20.28 trillion. Moreover, its selling expenses also went up 4.5% yoy to IDR 1.87 trillion.

Throughout 9M 2024, SMGR’s revenue was still dominated by cement production line, generating IDR 23 trillion. Meanwhile, non-cement product only brought in revenue of IDR 9.34 trillion, with revenue elimination of IDR 6.08 trillion. (KR/ZH)