JAKARTA – Although PT Tifico Fiber Indonesia Tbk (TFCO) recorded 17.01% increase in revenue, its profit saw 34.10% contraction in Q3 2022.
In the Financial Report quoted Thursday (24/11), Anton Wiratama, President Director of TFCO, confirmed that the revenue shifted higher from USD 152.17 million in Q3 2021 to USD 178.07 million as of September 2022. However, its gross profit declined 18.18% year-on-year (yoy) from USD 14.14 million to USD 11.47 million.
On top of this, the operating profit dropped significantly from USD 10.93 million to USD 6.85 million (yoy) due to the increased loss in foreign currency exchange from USD 288,433 to USD 2.36 million (yoy). It also dragged down the current year's profit from USD 9.20 million to USD 6.06 million.
The revenue came from goods sales of USD 176.25 million, as well as delivery and transportation services of USD 1.81 million. On the other hand, export sales brought in USD 40.28 million of revenue, while the domestic market turned in USD 137.78 million. (LK/ZH)