KONTAN.CO.ID - JAKARTA. PT Midi Utama Indonesia Tbk, the issuer managing the Alfamidi mini supermarket chain, recorded a net profit of IDR 158.56 billion in the first quarter of 2024. The company, listed as MIDI on the stock exchange, saw a consistent rise in revenue and profit in the first three months of 2024.

In the first quarter of 2024, MIDI posted a net revenue of IDR 4.79 trillion, marking an 18.6% year-on-year (YoY) increase from IDR 4.04 trillion in the same period last year.

Breaking down the revenue, the food segment accounted for IDR 2.98 trillion, the fresh food segment IDR 646.91 billion, and the non-food segment IDR 1.16 trillion.

The cost of revenue stood at IDR 3.52 trillion in the first quarter of 2024, down from IDR 2.95 trillion in the first quarter of 2023. Consequently, MIDI's gross profit amounted to IDR 1.26 trillion at the end of March 2024, a 16.5% YoY increase from IDR 1.08 trillion.

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After accumulating various other revenues and profits, the profit for the period attributable to the parent entity was IDR 158.56 billion in the first quarter of 2024. This represents a 35.04% YoY increase from IDR 117.50 billion.

Meanwhile, the basic earnings per share attributable to the parent entity rose to IDR 4.74 at the end of March 2024, up from IDR 4.08 at the end of March 2023.

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The company's total assets were recorded at IDR 8.50 trillion in the first quarter of 2024, up from IDR 7.78 trillion in the first quarter of 2023.

MIDI had total liabilities of IDR 4.41 trillion at the end of March 2024, up from IDR 3.87 trillion in the same period last year.

Meanwhile, the company's total equity was recorded at IDR 4.09 trillion as of March 31, 2024, up from IDR 3.91 trillion as of March 31, 2023.

MIDI also reported cash and cash equivalents at the end of the period in the first quarter amounting to IDR 412.24 billion, up from IDR 348.34 billion in the first quarter of 2023.

Editor: Syamsul Azhar