By the end of June, Pupuk Kaltim recorded assets valued at Rp10.857 trillion.Jakarta (ANTARA News) - State-owned fertilizer producer PT Pupuk Kalimantan Timur (Pupuk Kaltim) posted a 33.8 percent increase on-year in net profit to Rp949.77 billion in the first half of the year.
Company`s president director Aas Asikin Idat attributed the increase in profit to a 36.69 percent surge in income to Rp6.217 trillion .
Its cost of goods sold also grew strongly by 39.3 percent to Rp4.012 trillion, Aas said in a statement here on Wednesday.
Despite the high growth in the cost, the company still posted a healthy growth of 32,21 percent in gross profit to Rp2,204 trillion with operating profit rising 26.73 percent to Rp1.3 trillion.
However, a decline of 37.79 percent was recorded in other income to Rp66.358 billion with operating cost climbing 25.50 percent to Rp938.41 billion.
By the end of June, Pupuk Kaltim recorded assets valued at Rp10.857 trillion, up from Rp10.633 trillion six months earlier.
Pupuk Kaltim is a member of the state fertilizer holding PT Pupuk Indonesia, with other members including PT Pupuk Sriwijaya in South Sumatra, PT Petrokimia Gresik in East Java , PT Pupuk Kujang in West Java and PT Pupuk Iskandar Muda in Aceh.
Currently Pupuk Indonesia Holding has a total capacity of 8.2 million tons .
The holding company was newly established to help cope with problems faced by the subsidiaries such as persisted shortfall in gas supply, etc.
(Uu.AS/H-ASG/O001)
Editor: Priyambodo RH
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