JAKARTA (Yosefardi) – Automotive component producer PT Astra Otoparts Tbk (AUTO) booked net profit of Rp143 billion in the first half of this year, dropped 72.7% from Rp526 billion in the same period of last year. Net profit margin was 2.7%, compared to 7.3% in first half of 2014.
Revenues declined 8.1% to Rp5.72 trillion from previous Rp6.23 trillion. Operating profit fell 10.6% to Rp161 billion from earlier Rp302 billion. Operating profit margin was 2.8%, compared to 4.9% in first half of 2014.
Its assets reached Rp14.4 trillion while liability amounted Rp4.4 trillion.
AUTO has in July 2, 2015 set up a joint venture company with Japan’s Bridgestone Corp valuing Rp174 billion, to produce automotive component, antivibration products. AUTO holds 49% share ownership on the joint venture.