Indomobil profits Rp3bn only

PT Indomobil Sukses Internasional (IMAS) Tbk reported net profit of Rp3.3 billion in the first quarter 2009 on Rp1.6 trillion sales revenue.

Indomobil sales revenue declined slightly by 3% to Rp1.59 trillion, while its gross profit increased to Rp230 billion. The company managed to boost its operating profit by 22%, but higher financial expenses cost the company a lower net profit for the period.

Indomobil stock price surged from Rp530 early this month to close at Rp910 yesterday. At Rp910, Indomobil has market capitalization of US$90 million or about 17% from its total asset (US$527 million).

Indomobil has total liabilities of Rp4.8 trillion, or about 18 times its net equity of Rp271 billion. Long-term bank loans increased sharply to Rp1.36 trillion from Rp704 billion last year.

READ MORE!!!