Home » Business » 2 Sinarmas Paper Issuers Harvest Cuan, Here’s a Picture

2 Sinarmas Paper Issuers Harvest Cuan, Here’s a Picture

Jakarta, CNBC Indonesia The paper company duo Sinarmas Group, PT Tjiwi Kimia Tbk (TKIM) and PT Indah Kiat Pulp and Paper Tbk (INKP) reported their financial performance for the period ended September 30, 2021. Both posted improvements in terms of net profit.

For example, Tjiwi Kimia, in the first nine months, posted a net profit attributable to owners of the parent company of US$ 175.64 million or around Rp 2.50 trillion.

The net profit increased 4.38% from the same period in the previous year of US$ 168.26 million worth Rp 2.39 trillion assuming an exchange rate of Rp 14,250 per US$.

The net profit was in line with the increase in TKIM’s net sales during the first nine months to Rp. 744.44 million or around Rp. 10.60 trillion from the same period of the previous year of US$ 650.21 million or equivalent to Rp. 9.26 trillion.

Tjiwi Kimia’s cost of goods sold also rose to US$ 640.77 million or Rp 9.12 trillion from the previous US$ 565.49 million or Rp 8.05 trillion.

The company recorded gross profit as of September 30, 2021, valued at US$ 103.67 million from the same period in the previous year of US$ 84.72 million.

Meanwhile, PT Indah Kiat Pulp and Paper Tbk (INKP) recorded a net profit attributable to owners of the parent entity of US$ 390.85 million or around Rp 5.56 trillion for the period 30 September 2021.

The net profit increased 35.96% from the same period in the previous year of US$ 287.45 million or around Rp 4.09 trillion.

During the first nine months of this year, INKP recorded net sales of US$ 2.50 billion or equivalent to Rp. 35.62 trillion, up from the same period of the previous year of US$ 2.19 billion or around Rp. 31.20 trillion.

Along with the increase in net sales, the company’s cost of goods sold also rose to US$ 1.64 billion from US$ 1.54 billion in the same period last year.

Thus, INKP accumulated gross profit in September 2021 of US$ 857.37 million from the previous US$ 650.16 million.

In trading on Wednesday, it was observed that TKIM’s share price rose 0.98% to Rp 7,750 per share with a market capitalization of Rp 24.13 trillion.

Meanwhile, INKP’s share price rose 1.99% to Rp 7,700 per share with a market capitalization of Rp 42.13 trillion.

[Gambas:Video CNBC]

(sys / hps)



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