JAKARTA – Although the revenue slipped 19.97% year-on-year (yoy), PT Adhi Karya (Persero) Tbk (ADHI) reported profit soaring 194.51% yoy in Q3 2024 to IDR 69.32 billion from IDR 23.53 billion in the same period last year. This profit surge was supported by efficiency in operating expenses and income tax expenses.

Based on Q3 2024 Financial Report quoted Tuesday (19/11), its revenue arrived at IDR 9.16 trillion, much lower than IDR 11.44 trillion seen in Q3 2023.

Its gross profit also slipped from IDR 1.11 trillion to IDR 863.58 billion, bringing down its margin, as well, to 9.42% from 9.77%.

Engineering and construction segment brought in IDR 7.20 trillion of revenue in Q3 2024, followed by manufacture of IDR 1.25 trillion, property and shipping of IDR 378.34 billion, as well as investment-concession of IDR 315.31 billion.

Some of the clients bringing in over 10% of revenue to this state-owned enterprise in Q3 2024 include PT Jasamarga Jogka Solo of IDR 1.34 trillion, PT Jasamarga Jogja Bawean of IDR 1.05 trillion, and the Ministry of Public Works and Housing of IDR 1.08 trillion. (LK/ZH)