Indo Oil Perkasa doubled its profit in 9M 2022
JAKARTA. PT Indo Oil Perkasa Tbk (OILS), a palm oil manufacturer and distributor, recorded quite significant growth in its net profit until September 30, 2022.
According to the recently released financial report, OILS's net profit reached IDR 12.29 billion in 9M 2022, increasing 2.1 times higher than the numbers seen in the same period last year. Until September 2021, the company only managed to bring home a net profit of IDR 3.92 billion.
The net profit growth of OILS coincided with its swelling revenue that clocked up to IDR 382.43 billion in 9M 2022, shifting 51.5% year-on-year (you) higher from the same period last year. For comparison, in September 2021, the company's sales only arrived at IDR 252.5 billion.
Export sales still became OILS's primary contributor in 9M 2022, scoring revenue of IDR 347.94 billion. Meanwhile, local sales clocked up to IDR 134.5 billion.
Based on idnfinancials.com data, OILS only secured cash of IDR 4.55 billion as of September 30, 2022. Its total assets reached IDR 169.22 billion, while its equity reportedly amounted to IDR 88.23 billion. (KR/ZH)