Sido Muncul's Profits Increased by 30% in Q1 2024

Nabilah Muhamad 26/04/2024 14:21 WIB

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PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) reported a net profit of Rp390.49 billion in the first quarter of 2024, a 30% increase compared to the same period last year.

Sido Muncul's Sales and Profit Q1 (2023-2024)

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Sido Muncul's Profits Increased by 30% in Q1 2024

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Sido Muncul's Sales and Profit Q1 (2023-2024)

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PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) reported positive performance in Q1 2024, with a net profit of Rp390.49 billion, a 30% increase year-on-year (YoY).

This profit increase was supported by a 16.10% YoY increase in SIDO's sales to Rp1.05 trillion.

Positive growth occurred across all of SIDO's business segments. Sales in the herbal jamu and supplements segment increased by 13.30% YoY to Rp626.88 billion.

Sales in the food and beverage segment increased by 19.76% YoY to Rp396.11 billion, and the pharmaceutical segment surged by 30.63% YoY to Rp30.42 billion.

On the expenditure side, SIDO's cost of goods sold also increased by 0.99% YoY to Rp428.31 billion.

In detail, sales and marketing expenses in Q1 2024 reached Rp94.80 billion, general and administrative expenses Rp38.65 billion, and other expenses Rp13.25 billion.

As of the end of March 2024, SIDO's total assets were recorded at Rp4.25 trillion, a 9.30% increase from the end of December 2023.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."