/Net gain fell in the to start with quarter of 2021, shell out close consideration to Indocement (INTP) inventory tips

Net gain fell in the to start with quarter of 2021, shell out close consideration to Indocement (INTP) inventory tips

ILLUSTRATION. Indocement Tunggal Prakarsa (INTP) recorded a internet earnings of Rp 3.43 trillion in the initially quarter of 2021.

Reporter: Akhmad Suryahadi | Editor: Khomarul Hidayat

KONTAN.CO.ID – JAKARTA. PT Indocement Tunggal Prakarsa Tbk (INTP) recorded a internet income of Rp 3.43 trillion in the to start with quarter of 2021. This amount is up 2.26% from the initial quarter 2020 internet profits of Rp 3.36 trillion.

Even although income is increasing, bottomline the cement producer of the Tiga Roda brand name was basically corrected. INTP’s internet financial gain for the to start with 3 months of 2021 was recorded at IDR 351.31 billion or lowered by 12.26% from the net revenue in the very same period last 12 months of IDR 400.43 billion.

Mirae Asset Sekuritas analyst Mimi Halimin reported, INTP’s earnings in the initially quarter of 2021 realized 22.2% of the estimate posted by Mirae Asset and displays 22.4% of the consensus projection. Mimi assessed that Indocement’s income achievement during the 1st a few months was somewhat down below expectations and consensus.

Mimi attributed the contraction of INTP’s net financial gain to other running profits which seasoned a 66.4% YoY drop, 42.5% YoY decrease money revenue, and higher income tax expenditure, partly thanks to an overflow / supplemental tax load from the earlier yr.

Also Read through: Indocement (INTP) cement profits attained 4 million tons in the initially quarter of 2021

These variables cause INTP’s internet margin to be reduced for the duration of the initially quarter of 2021.

Mirae Asset estimates that INTP’s overall cement income quantity by the close of 2021 will arrive at around 18.2 million tons, up from income in 2020 which was only 17.1 million tons.

“This maximize is supported by a larger infrastructure price range and the potential for resumption of economic exercise,” wrote Mimi in his research, Monday (3/5).

In check out of the to start with quarter’s interacting general performance, Mirae Asset Sekuritas has revised down its economic performance projections for INTP. At the moment, Mirae Asset initiatives that INTP’s revenue will attain IDR 15.2 trillion or an improve of 7.1% YoY in 2021 and IDR 16.3 trillion or an maximize of 7.% YoY in 2022. Previously, INTP was projected to make income of up to IDR 15, 48 trillion and Rp. 16.58 trillion for 2021 and 2022.

From the side bottomlineMimi tasks that INTP’s internet profit in 2021 and 2022 will be in the vary of Rp 1.9 trillion or up 3.3% and Rp 2.1 trillion, or up 14.7%, respectively. This projection is also down from the preliminary net gain projection of Rp 2.04 trillion and Rp 2.41 trillion for 2021 and 2022.

Mirae Asset Sekuritas also modified INTP’s share suggestion, from the beginning obtain Results in being trading get with a reduced target price tag of IDR 14,600 (from the earlier IDR 16,300).

The risks for this recommendation are slower-than-envisioned desire advancement, growing price elements this kind of as higher fuel rates, and / or worse-than-expected oversupply.

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