Indomobil's profit adjusted

JAKARTA (JP): Auto firm PT Indomobil Investment Corporation said yesterday that its net profit had dropped Rp 2.4 billion (about US$666,000), in the three months to September, to Rp 112.4 billion from Rp 114.8 billion last June.

The company said in a statement the drop in net profit was from foreign exchange losses resulting from the sharp depreciation of the rupiah against the U.S. dollar during the three-month period.

But it said the nine-month net profit of Rp 112.4 billion was still larger than the net profit for the whole of 1996, which was Rp 101.8 billion.

Indomobil, which has been transformed into a listed firm under the name of PT Indomobil Sukses International, said its automobile sales dropped 31,000 vehicles last month, from an average 34,000 units a month in this year's first semester.

Motorcycle sales dropped to 176,000 units last month from an average 188,000 units per month in the first semester this year. (rid)