MPX Logistics Raup Profit Growth 123.6 Percent In The First Quarter Of 2024

Photo: Doc. Antara

JAKARTA - PT MPX Logistics International Tbk (MPXL), a transportation and service company, recorded a consolidated net profit of IDR 4.08 billion in the first quarter of 2024, an increase of 123.6 percent compared to the same period the previous year (YoY) of IDR 1.82 billion.

"The increase in net profit is in line with the increase in material income and transportation services located in the Nusantara Capital project. In addition, the company's revenue is supported by the increasing transportation of PLTU (FaBa) coal waste," said MPXL President Director Wijaya Candera in a statement in Jakarta, quoted from Antara, Tuesday, May 7.

It said that during the first quarter of 2024, the company recorded consolidated net income an increase of 60.24 percent YoY to Rp45.42 billion in the first quarter of 2024 compared to the previous Rp28.3 billion in the first quarter of 2023.

This growth was due to an increase from transportation service revenue of 149.21 percent to Rp24.8 billion in the first quarter of 2024 compared to the previous Rp9.9 billion in the first quarter of 2023 and material sales growth of 12.1 percent to Rp20.6 billion in the first quarter of 2024 compared to the previous Rp18 billion in the first quarter of 2023.

Wijaya added, in the future, MPXL will still focus on the trading segment of materials and transportation services that are the Company's main businesses, by continuing to develop other logistics transportation such as fly ash, bottom ash, clinics, lime stones, and coal.

This year the company has added 50 new tronton truck fleet units to meet the increase in demand for transportation from the company's long-term business contracts.

According to him, the new fleet will be projected to increase revenue by IDR 50 billion so that the company's target of IDR 222 billion in 2024 can be achieved.

"Not only to increase revenue, but will also make a positive contribution to economic growth in the transportation and logistics sectors," he said.

The company through its subsidiary MPX Indorental Gemilang has also established a strategic partnership with a contract for the next 5 years with the Chinese Power company in providing heavy equipment to operate in the andesit mine area located in Palu, Central Sulawesi.

In addition, the company is also exploring the services of transporting the andesite stone from the mining by barge to be sent to the capital city of Nusantara, East Kalimantan.