JAKARTA. A tug-and-barge service provider under Pelindo Group, PT Jasa Armada Indonesia Tbk (IPCM), posted revenue growth of 11.83% year-on-year (yoy) in the third quarter of 2022, scoring IDR 671.05 billion, while its net profit increased 12.22% yoy to IDR 101.67 billion.
Based on the unaudited financial statement as of September 30, 2022, IPCM managed to score double-digit growth, both on revenue and net profit. After subtracting the costs of revenue, which climbed from IDR 395.48 billion to IDR 480.68 billion (yoy), IPCM was left with a gross profit of IDR 190.36 billion, slipping off from IDR 204.6 billion (yoy).
The company also successfully cut down the general and administrative expenses from IDR 94.31 billion to IDR 68.29 billion (yoy), while its operational expenses shifted down to IDR 4.75 billion. Thus, the company was able to see a 16.5% yoy increase in its operating profit, moving from IDR 103.83 billion to IDR 120.32 billion in September 2022. Ultimately, IPCM managed to boost the current year’s profit 12.22% yoy higher from IDR 90.54 billion to IDR 101.67 billion.
Meanwhile, IPCM’s total assets grew from IDR 1.42 trillion at the end of this year to IDR 1.52 trillion in September 2022, as did its total liabilities from IDR 360.9 billion to IDR 271.46 billion. Then, the total equity clocked up to IDR 1.16 trillion as of September 2022. (AM/ZH)