PT Pupuk Indonesia's Profit Reaches Rp6.25 Trillion in 2023

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Nabilah Muhamad 03/04/2024 17:12 WIB

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PT Pupuk Indonesia (Persero) reported a net profit of Rp6.25 trillion in 2023, a decrease of approximately 66% compared to 2022.

PT Pupuk Indonesia's Revenue and Net Profit (2022-2023)

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PT Pupuk Indonesia's Profit Reaches Rp6.25 Trillion in 2023

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PT Pupuk Indonesia's Revenue and Net Profit (2022-2023)

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PT Pupuk Indonesia (Persero) reported a net profit of Rp6.25 trillion in 2023, a 66.2% year-on-year (yoy) plunge compared to 2022.

PT Pupuk Indonesia's revenue also decreased by 23.8% (yoy) to Rp79.21 trillion.

According to a presentation by PT Pupuk Indonesia's President Director, Rahmad Pribadi, their revenue and profit in 2022 were exceptionally high due to a surge in fertilizer commodity prices.

In 2023, commodity prices normalized, and there was a decrease in subsidized fertilizer allocation, resulting in a decline in their financial performance.

Despite this, Rahmad stated that PT Pupuk Indonesia achieved a new milestone in 2023.

"What's quite impressive in 2023 is that while the prices of Pupuk Indonesia's main products, urea and ammonia, dropped significantly, Pupuk Indonesia's global ranking actually rose," said Rahmad in a meeting with Commission VI of the DPR (House of Representatives) on Tuesday (2/4/2024).

In 2022, PT Pupuk Indonesia ranked 9th among the world's largest fertilizer producers. In 2023, its ranking rose to 6th.

"This means that Pupuk Indonesia has demonstrated its ability to navigate the down cycle better than other global competitors," said Rahmad.

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."

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PT Pupuk Indonesia's Profit Reaches Rp6.25 Trillion in 2023

PT Pupuk Indonesia's Profit Reaches Rp6.25 Trillion in 2023

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PT Pupuk Indonesia's Profit Reaches Rp6.25 Trillion in 2023

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