DRAMA Net Profit Increases 70%YoY in 3Q 2022
By : Nata Kesuma | Sunday, October 30 2022 - 11:10 IWST
PT Dharma Polimetal Tbk (“DRMA”)
INDUSTRY.co.id - Jakarta, 27th October, 2022 – PT Dharma Polimetal Tbk (“DRMA”), a listed company engaged in automotive component manufacturing business posted a net profit attributable to owners of the parent company of IDR249.94 billion in the third quarter of 2022, a 70% jump from IDR146.94 billion in the same period the previous year.
The increase in net profit was supported by sales which increased 28% YoY to IDR2.66 trillion from IDR2.08 trillion. Meanwhile, the cost of goods sold increased by 29% YoY, from IDR1.75 trillion to IDR2.25 trillion.
The demand for components from automotive manufacturers continues to increase in line with the increase in car sales in Indonesia. According to the Gaikindo report, in the January- September 2022, total car sales in Indonesia reached 758,216 units, growing 21% over the same period the previous year of 627,537 units.
"The revival of automotive sales as seen in the growth of national car sales, has made the demand for automotive components produced by DRMA also continue to increase. Hopefully the recovery of the national automotive industry can continue," said President Director of Dharma Polimetal, Irianto Santoso.
Looking at January-September’s sales growth and net profit, the Company is optimistic that it will be able to exceed the sales growth target of 20% and net profit growth of 50% this year.