DRMA Prints 2-fold Net Profit Increase In The Third Quarter Of 2023

DRMA scored a double increase in net profit in the third quarter of 2023. (Photo: Aris Nurjani/VOI)

JAKARTA The leading automotive component manufacturing issuer in Indonesia, PT Dharma Polimetal Tbk (DRMA) posted a net profit attributable to the parent entity of IDR 519.4 billion in the third quarter of 2023 or an increase of 107.8 percent yoy.

The gross profit was recorded at IDR 770.8 billion, an increase of 90.8 percent yoy.

This significant increase in profit was supported by sales of the company's automotive components, which increased 59.7 percent yoy to IDR 4.3 trillion.

DRMA sales continue to grow along with the company's success in gaining the trust of component making from new clients.

President Director of Dharma Polimetal Tbk Irianto Santoso said DRMA's competence in producing automotive components continued to increase higher, as evidenced by the success of achieving the trust of new clients to produce automotive components of the vehicles they produce.

Santoso said the use of DRMA production components by various major automotive companies in the world showed that the standard quality of components produced had been recognized by the international market.

"Currently we are enjoying the fruit of DRMA's consistency in maintaining the quality of this production, namely a significant increase in sales and net profit," said Irianto in his statement, Thursday, October 26.

Irianto said that this strong sales growth mainly came from sales of the two-wheeled vehicle segment which grew 53.9 percent yoy to Rp2.2 trillion.

Then sales of the four-wheeled vehicle segment grew 78.3 percent yoy to Rp1.4 trillion, and followed by sales of other segments consisting of fasteners, three-wheeled vehicles, and others which reached Rp610.2 billion or grew 44.6 percent yoy.

Irianto said that the success of achieving this good performance was the result of the company's hard work and consistency to fulfill orders in an impressive way.

"We always ensure that the components produced by DRMA are the best quality that is always sent on time, at competitive prices," said Irianto.