JAKARTA. PT Astra International Tbk (ASII) recorded a shrinkage in its net profit by 22% year-on-year (yoy) to IDR 3.73 trillion in Q1 2021.
Djony Bunarto Tjondro, the President Director of ASII, claimed that the decline resulted from the COVID-19 pandemic, whose impact took full effect from March 2020 forward. Thus, the business performance slowed down in Q1 2021 compared to Q1 2020.
“Although several business sectors are improving within these past months, the prospect of the future performances was still uncertain due to the ongoing pandemic,” Tjondro explained to idnfinancials.com.
If looking at its business lines, the most significant decline went to ASII’s agribusiness sector by 56% yoy in Q1 2021. The profit from information technology businesses also decreased by 50%, followed by logistic and infrastructure by 42%, financial business by 30%, and automotive business by 26%.
The total profit from all sectors of ASII in Q1 2021 amounted to IDR 51.7 trillion, went down by 4% yoy from Q1 2020 of IDR 54 trillion. (KR/ZH)