JAKARTA. PT Indo-Rama Synthetics Tbk (INDR) recorded revenue of USD 271.5 million in Q1 2022, shifting 29.91% from the number reported in the same period in 2021 of USD 208.9 million.
Out of that amount, export sales contributed USD 153.1 million, while local sales generated USD 119 million. Segment-wise, yarn spinning business brought the highest contribution to the revenue, reaching USD 188.2 million. It proliferated 21.6% from USD 154.7 million. Next is the polyester segment that underwent 51.97% year-on-year (yoy) growth to USD 134.3 million, followed by the fabric segment that clocked up to USD 12.2 million, climbing 30.36% yoy.
The company managed to score a gross profit of USD 46.1 million in Q1 2022, 64.56% higher than Q1 2021 gains of USD 28 million. Meanwhile, the current year’s profit attributable to the parent company also proliferated 84.5% yoy, shifting from USD 18.4 million to USD 33.9 million.
The company also reported its assets increasing to USD 938 million from USD 905.4 million at the end of 2021. In contrast, the liabilities were reduced from USD 441.6 million to USD 440.7 million at the end of March 2022. Lastly, its equity also climbed to USD 497.7 million on March 31, 2022, from USD 463.8 million recorded at the end of 2021. (AM/ZH)