Jakarta. PT Petrindo Jaya Kreasi Tbk posted a net profit of US$ 30 million in the first half of 2024. This figure represents an increase from the net profit of US$ 11 million in the first half of 2023.

Director of Petrindo Jaya Kreasi, Kartika Hendrawan, stated that the company's increasing profits were driven by a 79.2 percent year-on-year (YoY) increase in revenue, reaching US$ 310 million in the first half of 2024.

"The revenue was achieved through a more diversified mix of income. Our revenue in the first half of 2024 came from the engineering and construction, mining, and services business lines, contributing 30%, 28%, and 4% respectively," he said in an official statement on Tuesday (July 30, 2024).

The increased revenue also led to a rise in the company's gross profit and operating profit, reaching US$ 66 million and US$ 51 million, respectively.

With strong business performance, the company's total assets increased to US$ 1.157 million as of June 30, 2024, from US$ 230 million as of December 31, 2023.

The total assets increased as a result of the acquisition of shares in PT Multi Tambangjaya Utama (MUTU), PT Petrosea Tbk (PTRO) through subsidiaries PT Kreasi Jasa Persada (KJP), PT Borneo Bangun Banua (B3), and PT Borneo Bangun Banua Bestari ( B4).

"All of these share acquisitions have been consolidated into Petrindo Jaya Kreasi financial reports as of June 30 2024," Kartika Hendrawan, said.

The company's total assets as of the first half of 2024 consist of total liabilities (obligations) amounting to US$ 830 million and total equity of US$ 327 million.