Automotive Component Producer Owned By Conglomerate TP Rachmat Earns IDR 396.87 Billion Profit In 2022

JAKARTA - Automotive component manufacturer owned by conglomerate TP Rachmat, PT Dharma Polimetal Tbk (DRMA) earned a net profit of IDR 396.87 billion at the end of 2022. This achievement rose 87 percent compared to the previous year.

President Director of Dharma Polimetal (DRMA) Irianto Santoso explained that the increase in profit achieved by the company repeated last year's achievement where Dharma Polimetal also scored a net profit more than 25 times to IDR 212.69 billion. As for 2020, due to the impact of the company's pandemic, the company's net profit was only IDR 8 billion.

This increase in net profit accompanies sales growth in 2022, which amounted to IDR 3.91 trillion, an increase of 34 percent compared to 2021 worth IDR 2.91 trillion. The company claims this growth is above the growth in national automotive sales.

"The increase in net profit exceeds the target. This is an important time, where there has been a reversal from the economic situation that has been depressed due to the COVID-19 pandemic, so we must make the best use of it," explained Irianto in an official statement, quoted on Friday, March 3.

Until the end of 2022, Dharma Polimetal recorded a gross profit of Rp614.00 billion, an increase of 36 percent from the previous period of Rp452.01 billion, while operating profit increased by 27 percent from Rp420.22 billion to Rp533.26 billion.

DRMA's total assets on December 31, 2022, were recorded at IDR 2.68 trillion, an increase from IDR 2.54 trillion on December 31, 2021.