Jakarta. State-owned ferry company ASDP Indonesia Ferry on Friday reported its highest profit in history and more than three times the targeted amount for the fiscal year 2022.

ASDP announced a net profit of Rp 585 billion ($39 million), an increase of 79.4 percent from the previous year’s Rp 326 billion. 

The 2022 profit is also 220.8 percent higher than the company’s target, ASDP Chief Executive Officer Ira Puspadewi said in a statement.

“For 2022, we once again managed to book the highest profit in the history since ASDP was founded," Ira wrote.

ASDP also reported Rp 4.38 trillion in revenues, up by 23.4 percent from Rp 3.6 trillion in 2021.

The lifting of Covid-19-related travel restrictions helped the company regain ground last year and boost business performance, she said.

“People’s mobility returned to normal during the Eid el-Fitr and New Year holidays in 2022 and the number of passengers and vehicle traffic continued to increase," Ira said.

Last year, the number of ferry passengers jumped to 7.6 million, an increase of 66 percent year-on-year.