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Ending H1 2022 strongly, OILS’s profit soared 331.63%

01 September 2022 10:04

JAKARTA – The comprehensive current year’s profit of PT Indo Oil Perkasa Tbk (OILS) in H1 2022 skyrocketed 331.63% from the same period in 2021. This massive surge was propelled further by its sales and other revenue growth.

In the Financial Statement of H1 2022 quoted Thursday (1/9), Johan Widakdo Liem, President Director of OILS, revealed that the comprehensive current year’s profit reportedly reached IDR 8.63 billion. It was over four times higher than IDR 2 billion recorded in H1 2021.

The profit surge was driven by the sales growth, which brought it to IDR 226.25 billion in H1 2022 from IDR 166.68 billion in H1 2021. Its gross profit was also roughly doubled from IDR 10.78 billion to IDR 22.03 billion. Furthermore, its profit before tax also proliferated from IDR 2.67 billion to IDR 11.09 billion.

Then, the victorious profit growth was also a result of an increase in other revenue from IDR 1.70 billion in H1 2021 to IDR 3.67 billion. The current year’s profit was also multiplied from IDR 2.02 billion to IDR 8.59 billion.

The primary contributor of the revenue is export sales, which was tripled from IDR 50.90 billion in H1 2021 to IDR 164.49 billion in H1 2022, covering the slight slip-up in the domestic sales from IDR 115.77 billion to IDR 101.76 billion. (LK/ZH)

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