Sido Muncul Raises Revenue Of IDR 1.05 Trillion In The First Quarter Of 2024

Photo: Doc. Sido Muncul

JAKARTA - PT Industri Jamu and Pharmacy Sido Muncul Tbk (SIDO) recorded an increase in performance in the first quarter of 2024 compared to the same period in 2023. The company's revenues and profits increased by 16.09 percent and 30.04 percent respectively compared to last year.

Based on the Financial Statements of the First Quarter of 2024, quoted on Monday, April 29, SIDO recorded sales of IDR 1.05 trillion, up from IDR 907.30 billion in the same period in 2023.

The largest contributor to sales came from herbal herbal medicine and supplements with a value of Rp626.88 billion, up from Rp553.26 billion, followed by food and beverage products with a value of Rp396.11 billion, grew from Rp220.75 billion, and other products reached Rp30.42 billion, up from Rp23.28 billion.

SIDO's gross profit increased 29.37 percent to Rp625.11 billion, from Rp483.19 billion in the previous period. The gross profit margin reached 59.34 percent, up from the gross profit margin in the first quarter of 2023 which was 53.25 percent.

In addition, SIDO recorded a operating profit of IDR 491.43 billion, up 32.98 percent from IDR 369.53 billion. Profit before income tax also rose 32.16 percent to IDR 502.53 billion, growing from IDR 380.22 billion.

Meanwhile, SIDO's profit for the current period increased to IDR 390.49 billion, up from IDR 300.27 billion.