Astra International's net profit declines by 12% YoY
JAKARTA. PT Astra International Tbk (ASII) recorded a decline in its net profit of 12% Year on Year (YoY) to Rp 14.04 trillion in the period of January-September (9M) 2020.
Djony Bunarto Tjondro, President Director of ASII, explained that the decline in net profit was mainly caused by the COVID-19 pandemic, which has disrupted a number of the company's business lines. However, Tjondro emphasized that the company has implemented a number of protocols to control the impact of the pandemic on the company's business.
"This pandemic, and the measures taken to control its impact, are expected to continue for some time to come and will still affect the group's performance until the end of this year," said Tjondro to idnfinancials.com yesterday.
For information, the sale of shares of PT Bank Permata Tbk (BNLI) is the largest contributor to ASII's net profit for 9M 2020 (Rp 5.88 trillion), followed by heavy equipment, mining, construction and energy businesses (Rp 3.09 trillion), financial services (Rp 2.76 trillion), automotive (Rp 1.8 trillion), agribusiness (Rp 464 billion), property (Rp 86 billion), and IT (Rp 26 billion). (KR/AR)