BIPI returns to profit on cost cuts despite lower first-half revenue

JAKARTA – PT Astrindo Nusantara Infrastruktur Tbk (BIPI) reported net profit of USD 4.44 million for the six months ended 30 June 2026.

According to the company's financial statements, the result marked a turnaround from a net loss of USD 9.90 million in the same period last year.

However, total revenue fell 33.22% to USD 96.72 million from USD 144.83 million in the first half of 2025.

Coal sales remained the company's largest source of revenue at USD 78.21 million. This was followed by port rental income of USD 12.10 million, CPP and OLC services of USD 4.55 million, and other revenue of USD 1.85 million.

The return to profitability was driven by lower cost of revenue, which declined 41.44% to USD 76.23 million from USD 130.17 million a year earlier.

As a result, gross profit rose 39.77% to USD 20.49 million from USD 14.66 million.

Operating profit also increased 63.99% to USD 15.04 million from USD 9.17 million in the first half of 2025.

The company's performance was further supported by a 39.98% decline in net other expenses, which fell to USD 7.46 million in the first half of 2026 from USD 12.43 million in the corresponding period last year.

On the balance sheet, total liabilities fell around 6.28% to USD 937.23 million as of 30 June 2026, from USD 1.00 billion at 31 December 2025.

Meanwhile, total assets stood at USD 1.53 billion, down around 3.77% from USD 1.59 billion at the end of last year.

During the afternoon trading session on Monday (3/8), BIPI shares were up 0.70% at IDR 143 by 3:35 PM.

The stock has gained 18.18% over the past month and is up 55.43% since the start of 2026. (DK/ZH)