FIF finished Q1 2021 with a 39.15% decline in its net profit
JAKARTA. PT Federal International Finance (FIF), a financing company under PT Astra International Tbk (ASII), disclosed its financial performance in Q1 2021, which was less satisfying compared to Q1 2020.
In its recent financial report, the management mentioned that the company’s net profit went down by 39.15% year-on-year (yoy) in Q1 2021 to IDR 409.8 billion. This decline was due to the more unsatisfactory revenue performance that slipped off by 17.92% yoy to IDR 2.19 trillion in Q1 2021.
To provide more details, the revenue of FIF in Q1 2021 comprised income from the consumer financing business of IDR 2.12 trillion, fines and interests of IDR 46.51 billion, income from ijarah of IDR 11.71 billion, and other sources of income of IDR 2.27 billion.
According to idnfinancials.com, ASII controlled 99.99% of FIF’s shares in March 2021. The remaining portion went to PT Arya Kharisma. (KR/ZH)