DRMA Again Records Increase in Net Profit Up to Double Compared to Last Year in 3rd Quarter-2023
By : Nata Kesuma | Thursday, October 26 2023 - 13:15 IWST
PT Dharma Polimetal Tbk (DRMA)
INDUSTRY.co.id - Jakarta, 25 October 2023 – Indonesia's leading automotive component manufacturing listed company, PT Dharma Polimetal Tbk (DRMA) booked a net profit attributable to the parent entity of IDR 519.4 billion in the third quarter of 2023, or a jump of 107.8% YoY.
Meanwhile, gross profit was at IDR 770.8 billion, an increase of 90.8% YoY.
This significant increase in profit was supported by the Company's sales of automotive components which increased 59.7% YoY to IDR 4.3 trillion. DRMA sales continue to grow in line with the Company's success in gaining component manufacturing trust from new clients.
"DRMA's competency in producing automotive components continues to increase, as evidenced by our success in gaining the trust of new clients to produce components for their automotive products. The use of components produced by DRMA by various large automotive companies is a prove that the quality standards of our components are recognized by the international market. And currently, we are enjoying the fruits of DRMA's consistency in maintaining the quality of this production, namely a significant increase in sales and net profit," said President Director of Dharma Polimetal Tbk, Irianto Santoso.
This strong sales growth was mainly contributed by sales of the two-wheeled vehicle segment which grew 53.9% YoY to IDR 2.2 trillion, then sales of the four-wheeled vehicle segment which grew 78.3% YoY to IDR 1.4 trillion, and followed by segment sales others consisting of fastener, three-wheeled vehicles, others which reached IDR 610.2 billion or grew 44.6% YoY.
"The success of achieving this satisfying performance is the result of the Company's hard work and consistency in fulfilling orders in an impressive manner. We always ensure that the components produced by DRMA are of the best quality and are always delivered on time, at competitive prices," added Irianto Santoso.