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IQ – 2024: The Income of CSR Got Escalated 3,7 Percent, Net Profits Got Decreased 5,6 Percent

Doc. InfoSAWIT
IQ – 2024: The Income of CSR Got Escalated 3,7 Percent, Net Profits Got Decreased 5,6 Percent

InfoSAWIT, JAKARTA - PT Cisadane Sawit Raya Tbk (CSRA) delivered announcement its financial performance that was beyond expectation from non-audited financial performance per 31 March 2024 (first quarter of 2024/1Q24). The income of the company reached Rp 190,96 billion, got escalated 3,7% to the same period last year.

Even though the income increased, the net profits of the company got decreased 5,6% to be Rp 22,23 billion to Rp 23,56 billion in the same period last year. But the company successfully maintained the solid financial performance.

On 31 March 2024, the total asset of CSRA reached Rp 2,15 trillion, escalated from Rp 1,84 trillion from on 31 December 2023. While the total obligation of the company got escalated to be Rp 1,02 trillion to Rp 727,69 billion by the late of 2023. The net debt ration to equity also got increased to be 0,69x in 1Q24 from 0,63x by the late of 2023.

“Even though the first quarter financial was strong, the company acknowledged the challenges to maintain performance consistency when the world faced uncertainty. But the team of CSRA successfully solved the issues well,” the representative of the company noted, as InfoSAWIT quoted from the official report, Tuesday (21/5/2024).

CSRA also acknowledged the successful initiative to escalate mechanism that focused on quality and efficient costs that made the company effectively quality the terms and conditions in its operation.

Besides, the construction of the third palm oil mill in Regency of Banyuasin has started since on 8 January 2024. It was designed with sophisticated technology and would be in 30 ton per hour – capacity to produce crude palm oil (CPO) and palm kernel (PK).

The company also accelerates to get Indonesian Sustainable Palm Oil (ISPO) certification in South Sumatera, implements transportation, harvest mechanism, and digitalization in every plantation to get efficient and optimal production. The management of CSRA believed that the strong integrity and harmony to every strategy, the company would keep escalating its performance and realize vision and mission well.

The report also showed the commitment of CSRA to keep innovating and maintaining its position as the main actor in palm oil industries though it faced economic challenges. (T2)