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Coal Average Selling Price Increase In 1Q23, CPIN managed to record sales growth of 1.9% YoY to IDR 14.6 trillion (vs. 1Q22: IDR 14.3 trillion). The increase in raw material costs happened due to higher Soybean Meal (SBM) and Corn prices, by 3.5% YoY, which caused the cost of sales to increase by 10.0% YoY in 1Q23 and made gross profit contracted by 38.4% YoY to IDR 1.5 trillion. Net profit for 1Q23 also contracted by 79.8% YoY to IDR 241.0 billion (vs. 1Q22: IDR1.2 trillion), with NPM recorded at 1.7%, down from 1Q22’s 8.3%, yet increasing from 4Q22’s at –1.9%. Asset Growth In 1Q23, CPIN managed to record sales growth of 1.9% YoY to IDR 14.6 trillion (vs. 1Q22: IDR 14.3 trillion). The increase in raw material costs happened due to higher Soybean Meal (SBM) and Corn prices, by 3.5% YoY, which caused the cost of sales to increase by 10.0% YoY in 1Q23 and made gross profit contracted by 38.4% YoY to IDR 1.5 trillion. |
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