Astra Group chalks up 63 percent rise in Q1 net profit

"Most business units of Astra Group have good performance in the first three months of the year," its President Director Prijono Sugiarto said.

Jakarta (ANTARA News) - Publicly traded widely diversified corporation PT Astra International reported a net profit of Rp5.1 trillion in the first quarter of this year or a 63 percent increase from Rp3.1 trillion in the same period last year.

"Most business units of Astra Group have good performance in the first three months of the year," its President Director Prijono Sugiarto said here on Thursday.

Prijono said only business in information technology , infrastructure and logistics had performed below expectation.

Automotive business recorded a 45 percent increase in profit to Rp2.3 trillion. Its automotive unit under Astra International is the countrys largest automotive producer.

The net profit of its financial service business shot up 75 percent to Rp1.1 trillion . One of its business unit in the financial service sector is Bank Permata.

Its business in heavy equipment industry and mining reported a 104 percent increase in net profit to Rp902 billion and net profit from agribusiness sector surged 92 percent to Rp638 billion.

Its property business also reported a strong growth with profit at Rp42 billion up from Rp13 billion year-on-year . The main contributor to profit in the property business is Anandamaya Residences.

Meanwhile, profit from business in the infrastructure and logistics dropped 3 percent to Rp67 billion mainly attributable to losses recorded with the start of work to build the Cikopo-Palimanan toll road and low income from business in clean water supply. The net profit from information technology also shrank 23 percent to Rp26 billion.

Consolidated income of the Astra Group rose 16 percent to Rp48.8 trillion with contributions from all its business units.

"Later on, the Astra Group hopes to gain from the countrys sustainable economic growth although the automotive business is expected to face a tougher competition,"he said. (*)

Editor: Heru Purwanto
Copyright © ANTARA 2017