Indonesia’s second-biggest cement maker, PT Indocement Tunggal Prakarsa, said Friday its net profit more than tripled in the first quarter ended March, aided by stronger sales and falling interest expenses.
Net profit rose to IDR377.03bn (US$40.8m) from IDR112.50bn a year earlier, the company said.
Sales rose 38.5 per cent to IDR2.05trn.
Operating profit surged 156 per cent to IDR545.78trn as spending rose by only 19.7 per cent to IDR311.26bn, it said.
The bottom line was boosted further by a drop in net ’other charges’ to IDR9.66bn from IDR51.06bn, which the company attributed to a fall in interest expenses to IDR35.07bn from IDR55.78bn.