JAKARTA: PT Astra Otoparts Tbk, a producer of vehicle spare parts, posted a slight increase in net profit by 1.34% to IDR262.52 billion in the first three months this year from IDR259.04 billion a year earlier.
Such net profit was far below the 17.01% growth in first quarter 2012 from IDR1.82 trillion in the first three months 2011 to IDR2.13 trillion in the same period in the following year.
Thus, the net margin of the AUTO-coded company fell by 8.77% to 16.1% from 17.55% last year.
As the gross margin ratio dropped 13.39% from 14.24% in first quarter 2011 to 12.34% in the same period in the following year.
The declined net margin reflects a decline in the company’s efficiency in achieving net profit. As earlier reported, Astra Otopart’s net margin reached 13.67% or narrowed to 25.64% compared to 18.24% in 2010.
In the public exposure held last week, Astra Otoparts Director Siswanto Prawiroatmodjo said the rising price of raw materials led to such decline in net profit.
In today’s trading, AUTO-coded share was stagnant at price of IDR3,550 a share, with price earnings ratio of 13.58 times. (T06/faa)
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