Jakarta. Indonesia's leading business conglomerate, Bakrie & Brothers (BNBR), has announced a substantial 31.77 percent year-on-year increase in net revenue, reaching Rp 3.079 trillion ($193.7 million) in the third quarter of the current year. This impressive growth can be attributed to the outstanding performance of three key subsidiaries.

During the same quarter, Bakrie achieved an operating profit of Rp 228.33 billion, marking a significant increase of nearly 159 percent compared to the corresponding period last year.

The overall net revenue was contributed by three key subsidiaries, namely Bakrie Metal Industries (Rp 1.85 trillion), VKTR Teknologi Mobilitas (Rp 890.99 billion), and Bakrie Indo Infrastructure (Rp 328.27 billion).

"We are delighted to report that the company's efforts to diversify into new businesses have begun to yield positive results. We are increasingly confident that the strategic projects we are developing will have a commendable impact," BNBR Chief Executive Officer, Anindya Bakrie, said in a statement.

VKTR, a subsidiary dedicated to electric vehicle development and distribution, has initiated the production of electric buses under a license from the Chinese bus manufacturer BYD. This move comes after receiving an order for nine buses from Riau Andalan Pulp & Paper, with assembly taking place at their facility in Magelang, Central Java.

Following a successful partnership with BYD, which also supplies electric buses to the local land transportation operator TransJakarta, VKTR plans to expand its strategic collaborations with other Chinese firms, including Yutong and JAC Motors, for the production of electric trucks, Anindya added.

VKTR also intends to expand its dealership network in Indonesian cities through a partnership with Maju Motor Group.

BNBR is actively pursuing renewable energy projects, starting with the establishment of a solar power plant by Bakrie Power.

In another venture, BNBR is venturing into the 3D printing for the construction industry through its subsidiary, Modula Sustainability Indonesia, which has formed a partnership with COBOD International in Denmark.

BNBR also owns Bakrie Autoparts, which reported a revenue of Rp 791.5 billion in the third quarter, reflecting a 27 percent increase from the same period last year. This growth is attributed to the rising demand for automotive parts from top manufacturers such as Hino, Mitsubishi, and Isuzu.

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