Profit Of Plantation Company Owned By TP Rachmat Conglomerate Soars 375 Percent To IDR 911.07 Billion

JAKARTA - The oil palm plantation company, PT Triputra Agro Persada Tbk, recorded a profit increase of more than 300 percent. The company's revenue with the code of TAPG shares has also increased in 2020.

Quoted from Triputra Agro's financial report published on the Indonesia Stock Exchange (IDX) website, Monday 27 April, the company owned by TP Rachmat conglomerate recorded revenue in 2020 of IDR 5.25 trillion in 2020. This gain increased 21.63 percent compared to 2019's acquisition. amounting to IDR 4.33 trillion.

Meanwhile, sales and marketing expenses were significantly reduced from IDR 245.52 billion to IDR 193.94 billion in 2020. As a result, Triputra Agro was able to record an increase in gross profit from the previous year by 63.25 percent to IDR 1.39 trillion.

With this achievement, the company was able to record a jump in profit for the year attributable to the parent entity reaching 375.96 percent to IDR 911.07 billion in 2020. Meanwhile, in 2019, TAPG only recorded a profit of IDR 191.41 billion.

Meanwhile, the company did not experience a significant change in total assets from the previous year. TAPG assets recorded a slight increase of 0.47 percent of IDR 12.32 trillion compared to 2019 of IDR 12.26 trillion.

TAPG has a planted area of 170.000 hectares spread across 27 plantations. The company's business segment is divided into two, namely palm oil and palm kernel, and rubber.

The company also has 15 units of palm oil mills with a total capacity of 845 tons per hour. Meanwhile, TAPG was only listed on the IDX on April 12, 2021.