JAKARTA. PT Tunas Ridean Tbk (TURI) booked a net profit of IDR 897.99 billion in the 2022 fiscal year, growing 57% from the previous year which reached IDR 571.29 billion.

"The group provided a strong performance thanks to higher sales volume from the automotive business and stronger contributions from the leasing and consumer financing businesses, supported by the economic recovery," said Rico Setiawan, President Director of TURI, in his official statement.

According to the recently released financial report, TURI's net profit in 2022 was supported by its net revenue performance of IDR 14.57 trillion. The company's revenue in 2022 increased by 19.92% from the previous year which reached IDR 12.15 trillion.

Most of TURI's revenue in 2022 will come from the motor vehicle business line, with a revenue contribution of IDR 13.47 trillion. Meanwhile, the spare parts business line contributed IDR 816.7 billion, administration of motor vehicles IDR 460.86 billion, operating leases IDR 396 billion, sales of used vehicles for rent IDR 200 billion, driver services IDR 172 billion, and other income IDR 25.5 billion.

In 2022, TURI also received a higher share of the net proceeds from associated entities, namely IDR 372.9 billion. In the previous year, the share of the net proceeds received by the company from associated entities was only IDR 120.48 billion.

As of 31 December 2022, TURI's total assets were recorded at IDR 7.54 trillion. Meanwhile, its total equity was recorded at IDR 4.32 trillion. (KR/LM)