Indofarma Posts Rp 977 Million Profit in First Half of 2021

Based on its published financial reports, PT Indofarma (Persero) Tbk recorded a profit of Rp 977.78 million in the first half of 2021. In the previous semester, PT Indofarma (Persero) suffered a loss of Rp 4.66 billion.

The state-owned company, listed on the Indonesia Stock Exchange under the code INAF, was able to record this profit driven by an 89.88% increase in sales to Rp 849.33 billion in the first six months of this year compared to the same period last year. Meanwhile, its cost of goods sold only increased by 59.35% to Rp 522.48 billion.

As a result, the operating profit of this state-owned pharmaceutical company (BUMN) surged by 97.48% to Rp 32.21 billion in the first half of this year, compared to Rp 16.31 billion in the first half of last year.

Other financial performance indicators show that Indofarma's assets increased by 13.88% to Rp 1.95 trillion during the January-June 2021 period, compared to Rp 1.71 trillion in the same period of the previous year. This increase in assets was driven by an 18.48% increase in liabilities to Rp 1.52 trillion and a 0.23% increase in equity to Rp 431.31 billion.

The Indonesian government is recorded as holding 1 share of INAF's Series A Dwiwarna shares. Meanwhile, 80.66% of Indofarma's Series B shares are owned by PT Bio Farma (Persero), 7.32% by PT ASABRI (Persero), and the remaining 11.94% by the public.