Astra back in black

JAKARTA (JP): Publicly listed PT Astra International announced on Tuesday a net profit of Rp 330 billion (US$47.1 million) for the first nine months of the year, compared to Rp 1.84 trillion in losses in the corresponding period last year.

The country's largest automaker attributed the improvement mainly to a significant increase in its automobile sales, which generated Rp 3.1 trillion in revenues in the third quarter, up 47 percent from Rp 2.1 trillion in the second quarter.

Astra said in a statement that cumulative net revenues from its automotive division and other sectors outside financial services in the first nine months totaled Rp 9.55 trillion, an increase from Rp 5.5 trillion in the first semester.

Its financial services division booked Rp 613 billion in net revenues, a jump from Rp 437 billion in the first semester.

"Our increased sales in the last quarter could bring us total sales of 450,000 motorcycles and 80,000 cars for the whole year," Astra added.