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LISTED COMPANY - JAKARTA. PT Semen Baturaja Tbk (SMBR), an Indonesian cement company, has released its first-quarter financial report for 2024, revealing a revenue of IDR 432.48 billion.
According to the company's financial report, SMBR's revenue saw a slight increase of 0.58% year-on-year (YoY), compared to IDR 429.95 billion in the same period last year.
The revenue includes third-party sales of IDR 2.64 billion and related-party revenue of IDR 432.48 billion.
However, at the same time, SMBR's cost of revenue increased by 14.58% YoY, from IDR 280.01 billion to IDR 320.86 billion.
As a result, Semen Baturaja's gross profit fell by 25.55% YoY to IDR 111.62 billion. In contrast, in the same period last year, SMBR's gross profit stood at IDR 149.94 billion.
For the first quarter of 2024, SMBR recorded a decrease in sales expenses to IDR 33.23 billion, a reduction of 44.20% compared to IDR 59.55 billion in the first quarter of 2023. Similarly, general and administrative expenses also decreased by 1.76% YoY to IDR 51.12 billion.
By the end of March, SMBR had a net profit attributable to the parent entity of IDR 5.08 billion. This represents a 47.57% drop compared to the previous IDR 9.69 billion at the end of March 2023.
