TINS Books Net Profit Of IDR 908.81 Billion To The Third Quarter Of 2024

Photo: Maria Trisnawati/VOI

PT Timah Tbk (TINS) posted a net profit of IDR 908.81 billion until the third quarter of 2024.

This number increased by 169 percent from the company's target in early 2024.

In terms of revenue, PT Timah recorded revenue of IDR 8.25 trillion, an increase of 29 percent from the previous year.

"Alhamdulillah, until September 2024, the Company has managed to record a profit in the range of Rp909 billion. In contrast to last year's condition where we posted a loss of Rp443 billion," said Finance Director of PT Timah Tbk, Fina Eliani at a press conference in Jakarta, Friday, November 22.

This net profit and income gain occurred amid an increase in the average selling price of lead metal by 15 percent from 27,017 US dollars per metric ton yoy to 31,183 per metric ton in the third quarter of 2024.

On the other hand, PT Timah's cost of revenue increased by 4.5 percent from Rp5.79 trillion in the third quarter of 2023 to Rp6.05 trillion in the third quarter of 2024.

PT Timah also reported having posted a operating profit of Rp1.42 trillion with the achievement of EBITDA of Rp2.08 trillion or 194 percent from the third quarter of 2024.

The Company's asset value in the third quarter of 2024 fell 0.3 percent to IDR 12.82 trillion from IDR 12.85 trillion in the assets position at the end of 2023.

Fina said that the Company's financial performance showed good results, as can be seen from several important financial ratios including Quick Ratio of 76.0 percent, Current Ratio of 249.0 percent, Debt to Asset Ratio of 44.0 percent, and Debt to Equity Ratio of 78.4 percent.