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Jakarta Post

Astra’s profit plunges 44% in H1 as pandemic batters auto business

  • Yunindita Prasidya

    Jakarta

Jakarta   /   Tue, August 4 2020   /  01:00 am
Clouds roll in over the Astra International offi ce tower on Jl. Sudirman in Central Jakarta. (JP/Courtesy of Astra International)

Diversified conglomerate PT Astra International has reported a drop in revenue and net profit in the first half of the year, largely because of the pandemic’s major impacts on the automotive industry and commodity prices. 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 segmen...