Astra International Cuan IDR 25.69 Trillion In The Third Quarter Of 2023

Rupiah illustration (Photo: dock. Antara)

JAKARTA - PT Astra International Tbk (ASII) recorded a net profit of IDR 25.69 trillion during the third quarter of 2023. This achievement rose 10 percent year on year (yoy) compared to IDR 23.33 trillion in the third quarter of 2022.

"The Group's net interest, (if) without taking into account the reasonable value adjustment on investment in GoTo and Hermina reached IDR 26.1 trillion, 17 percent (yoy), higher than the same period last year," said ASII President Director Djony Bunarto Tjondro quoting Antara, Wednesday, November 1.

The increase in Astra Group's net profit was supported by an increase in net income by 9 percent (yoy) to Rp240.91 trillion in the third quarter of 2023, compared to Rp221.35 trillion in the third quarter of 2022.

Meanwhile, the company's net income was contributed by the automotive business segment worth IDR 99.16 trillion, followed by the heavy equipment, mining, construction and energy business segment worth IDR 97.59 trillion, and the financial services segment worth IDR 21.98 trillion.

Then, the agribusiness business segment worth Rp. 15.68 trillion, the infrastructure and logistics segments worth Rp. 6.66 trillion, the information technology segment worth Rp. 2.07 trillion, and the property segment worth Rp. 621 billion.

Astra Group recorded a cost of revenue of IDR 187.32 trillion during the third quarter of 2023, selling expenses of IDR 8.34 trillion, general and administrative expenses of IDR 12.80 trillion, and financial costs of IDR 2.06 trillion.

"We see the Group will be able to remain resilient amid global economic uncertainty and record good performance until the end of the year with moderate growth in the last quarter," said Djony.

Furthermore, net cash, excluding the Group's financial services subsidiary, was recorded at IDR 14.6 trillion as of September 30, 2023, compared to IDR 35.1 trillion at the end of 2022.

Meanwhile, the Group's financial services subsidiary's net debt was recorded at IDR 50.4 trillion as of September 30, 2023, compared to IDR 44.5 trillion at the end of 2022.

Until the third quarter of 2023, the company's total equity was recorded at IDR 238.96 trillion, with liabilities worth IDR 204.00 trillion, so that total ASII assets were recorded totaling IDR 442.97 trillion in this period.