Indofarma sales skyrocket by almost 90%
JAKARTA. The sales of PT Indofarma Tbk (INAF) in H1 2021 soars 89.97% to IDR 849.32 billion. With this achievement, the state-owned pharmaceutical company manages to turn in a positive net profit of IDR 977.78 million, bouncing back from a loss reported in the first half of 2020.
Based on the unaudited financial report as of June 2021, released yesterday (5/9), the surge in sales goes hand in hand with the rise in costs of sales to IDR 522.48 billion from IDR 327.87 billion in June 2020. Thus, the company succeeds in doubling its gross profit from IDR 119.42 billion to IDR 326.84 billion.
Despite the increases in costs of sales and general and administrative expenses, the company ends up with an operating profit of IDR 32.21 billion, almost twice IDR 16.31 billion in H1 2020. Thus, by the end of H1 2021, INAF manages to rebound from a net loss of IDR 4.66 billion in H1 2020 to a net profit of IDR 977.78 million.
Meanwhile, the liabilities of INAF climbs to IDR 1.51 trillion in H1 2021 from IDR 1.28 billion by the end of 2020. It results from the short-term liability growth from IDR 836.75 billion to IDR 1.08 trillion. On the other hand, its equity remains stable, reaching IDR 431.29 billion from IDR 430.32 billion. Thus, it brings the total assets of INAF by the end of H1 2021 to IDR 1.95 trillion from IDR 1.71 trillion in December 2020. (AM/ZH)