JAKARTA - PT Gajah Tunggal Tbk (GJTL) recorded a net profit of IDR 1.18 trillion throughout 2024. Although it showed a slight growth of 0.42% year-on-year (yoy) compared to the previous year, the company remains optimistic in facing market challenges.

GJTL management stated that this profit increase was supported by higher net sales, which reached IDR 18.02 trillion, up 6.18% from IDR 16.97 trillion in 2023.

"Our performance remains positive despite the ongoing global economic challenges. We have successfully maintained growth, especially in sales, which has been the main factor driving the profit increase," said GJTL management in its official statement on Thursday (March 27).

Meanwhile, the company's cost of goods sold also increased to IDR 14.15 trillion from IDR 13.23 trillion in 2023, resulting in a gross profit growth of only 3.75%, reaching IDR 3.87 trillion in 2024.

In addition, operational expenses such as sales expenses, general expenses, and administration costs also saw an increase. "We continue to strive for operational cost efficiency to maintain profitability," the management added. (DK/LM)