PP Booked Rp 267 Billion In Net Profit In 3rd Quarter 2024

Thursday, 21 Nov 2024

By putri@insightinnews.com As of the third quarter of 2024, PT PP (Persero) Tbk (PTPP), a state-owned enterprise, has reported a net profit of IDR 267.28 billion. This figure represents an annual increase of 11.49 percent compared to the same period last year. Additionally, PTPP's operating revenue has risen by 14.54 percent year-on-year, reaching IDR 14 trillion, slightly surpassing the third quarter of 2023. Notably, PTPP's net profit exceeds that of other state-owned enterprises in the construction sector; for instance, Adhi Karya reported a net profit of IDR 69.3 billion in the third quarter of 2024. Regarding contracts, by October 2024, PTPP has secured contract values totaling IDR 24.4 trillion from various projects. Among these, the Jogja–Bawen Toll Road Project Section II stands out with a contract value of IDR 1.53 trillion, awarded as of October 2024. The positive results achieved by PTPP underscore the company's commitment to continuous growth and active participation in Indonesia's infrastructure development. The diverse sources of net profit from various segments indicate that the company has effectively diversified its business, contributing to favorable financial outcomes. PTPP's Corporate Secretary, Joko Raharjo, acknowledged the challenges present in the construction sector, stating that maintaining revenue and growth within a positive framework is not an easy task, especially amidst various industry challenges. "Nevertheless, PTPP is continuously adjusting its strategies to confront these challenges and ensure the company remains in an optimal condition," Joko explained. He expressed hope that the company's financial situation would continue to improve as the year comes to a close. "We aspire for PTPP to enhance its contributions to various strategic projects in Indonesia, thereby achieving equitable economic growth," Joko said.

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