The company’s revenue has fallen by 23 percent year-on-year (yoy) to Rp 89.8 trillion (US$6.19 billion) as of June 30. Its net profit, excluding revenue from the sale of Bank Permata shares, nosedived 44 percent yoy to Rp 5.5 trillion. 

“Countermeasures against the pandemic implemented in most regions in Indonesia, including the temporary closedown of manufacturing activities and automotive distribution, have impacted the group’s operations substantially,” Astra president director Djony Bunarto Tjondro said in a press statement on Wednesday. 

Astra Group, which has over 230 subsidiaries working under seven business segments, namely automotive, financial services, agribusiness, property, infrastructure and logistics, information technology and heavy equipment, mining, construction and energy, has reported a decrease in almost all of the business sectors it operates in. However, its automotive business was the hardest hit.  

Read also: Light at end of tunnel for auto industry as June car sales rebound: Experts

Net profit in the company’s automotive segment crashed 79 percent yoy to Rp 716 billion because of a fall in sales volume in the second quarter of the year. The business segment went from being the biggest contributor to net profit in June last year to its third-largest contributor.

Astra’s car sales fell by 45 percent during the first half of the year to 139,500 units. In the second quarter alone, sales fell 92 percent against the previous quarter. Honda Astra’s motorcycle sales, meanwhile, fell 40 percent to 1.5 million units in the first half and 80 percent quarter-on-quarter (qoq).

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