Sido Muncul's Net Profit Falls 16.75% in Q3 2022

PT Industri Jamu dan Farmasi Sido Muncul Tbk reported a quarterly recovery in performance. However, for the first nine months of this year, the pharmaceutical issuer's performance declined.

Sido Muncul booked a net profit attributable to the parent entity of Rp720.44 billion in the third quarter of 2022. This profit was down 16.75% from the net profit achieved in the same period of the previous year, Rp865.49 billion.

Based on the financial report of the company with the stock code SIDO, the company booked sales until September 2022 of Rp2.61 trillion, down 5.85% from the same period in the previous year, which was Rp2.77 trillion.

SIDO's largest revenue came from herbal jamu and supplement sales of Rp1.65 trillion, down 6.31% from the previous Rp1.76 trillion.

Meanwhile, for food and beverage revenue, the company recorded Rp842.65 billion. This figure is down 6.29% from the previous Rp899.30 billion. In addition, revenue from the pharmaceutical segment reached Rp114.73 billion, up 5.21% from the previous Rp109.04 billion.

On the other hand, Sidomuncul's cost of goods sold was recorded at Rp1.22 trillion, up 0.47% from Rp1.21 trillion in the previous year. Along with the increase in the cost of goods sold, the company's indirect production costs reached Rp180.25 billion until September 2022, also up 3.44% from Rp174.25 billion in the previous year.