Bisnis.com, JAKARTA – Pelindo Group pilot and tugboat issuer, PT Jasa Armada Indonesia Tbk. (IPCM) recorded excellent performance with an increase in net profit and revenue per quarter III/2023. The company is also optimistic that revenue will reach IDR 1 trillion by the end of 2023.

Referring to the financial report on the IDX website, IPCM recorded a net profit of IDR 119.78 billion as of September 30 2023, or an increase of 17.81% year-on-year (yoy) from IDR 101.67 billion in the same period in 2022.

The increase in IPCM’s net profit was driven by net income of IDR 858.11 billion or an increase of 27.87% year-on-year (yoy) compared to the first quarter of 2022 of IDR 671.05 billion.

In detail by segment, IPCM’s revenue was supported by ship services amounting to IDR 720.99 billion, followed by transportation and other services amounting to IDR 105.61 billion, and ship management services amounting to IDR 31.5 billion.

IPCM Main Director, Shanti Puruhita, said that his party is optimistic that Indonesia’s stable economic growth will increase trade flows and logistics transportation, so that IPCM’s revenue in 2023 is targeted to reach IDR 1 trillion.

“We are optimistic that revenue will reach a better value than the previous year. “We hope to reach IDR 1 trillion by the end of the year,” he said in an IPCM public presentation, Thursday, (30/11/2023).

Along with the increase in revenue, the company’s cost of goods rose 32.95% yoy from IDR 639.09 billion per quarter III/2023 compared to the same period in 2022 of IDR 480.68 billion. Shanti said that most of the basic expenses were contributed by the increase in fuel prices.

As a result, the company’s gross profit rose 15.05% yoy to IDR 219.02 billion, compared to the same period in 2022 of IDR 190.36 billion.

Meanwhile, the company’s cash and cash equivalents fell 29.31% yoy to IDR 407.96 billion in the first 9 months of 2023, compared to the same period in 2022 of IDR 577.15 billion.

Based on the balance sheet, IPCM’s total assets grew to IDR 1.54 trillion as of September 30 2023, compared to the position at the end of December 2022 of IDR 1.48 trillion.

The company’s liabilities increased to IDR 323.75 billion compared to the position at the end of 2022 of IDR 291.68 billion. Meanwhile, IPCM’s equity rose to IDR 1.22 trillion, compared to the position in December 2022 of IDR 1.19 trillion.