Jakarta – PT Jasa Armada Indonesia Tbk (IPCM) increased its profit by 7% in the first half of this year to Rp64,703 billion, up from Rp60,466 billion in the same period last year.

The company's financial report released on Tuesday (7/26) showed an increase in net income of around 8.94% to Rp428.199 billion from Rp393.041 billion, supporting the strengthening of profits.

IPCM also reduced other operating expenses more than three times, from Rp11,698 billion to Rp3,654 billion. As a result, financial expenses shrank by around 35.16% to Rp912,303 billion from Rp1,379 trillion.

However, other operating income fell almost ten times, from Rp7.098 billion to Rp787.880 million.

The cost of revenue also jumped by around 13.79% to Rp307.614 billion from Rp270.327 billion.

Until the first semester of 2022, IPCM's total assets were at Rp1.528 trillion, with liabilities of Rp389.363 billion and equity of Rp1.129 trillion.