TLDN Reports 34.6% Rise in Net Profits to Rp 70.25 Billion in Q1 2024

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Illustration of palm oil mill. Photo by: Sawit Fest 2021 / Arie Basuki

PALMOILMAGAZINE, JAKARTA – PT Teladan Prima Agro, Tbk (TLDN) achieved a significant increase in net profits, reaching Rp 70.25 billion in January-March 2024. This marks a notable rise of 34.6% compared to the same period last year when profits stood at Rp 52.18 billion.

The positive performance is attributed to a 13.7% year-on-year decrease in production costs, reflecting the effectiveness of the company’s cost-saving strategies while maintaining optimal productivity levels.

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Wishnu Wardhana, Director of TLDN, highlighted that in January-March 2024, the cost of goods decreased to Rp 667.91 billion from Rp 744.1 billion, resulting in gross profits of approximately Rp 190.73 billion, representing a 5.1% increase compared to the corresponding period last year.

Also Read: TLDN Revenue Reach Rp 4.01 Trillion in 2023

“We also successfully maintained operational performance positively both in the plantations and mills,” he said, as in the official statement to Palmoilmagazine.com, Wednesday (1/5/2024).

TLDN keeps being committed to escalate its production while always paying attention to realize efficient costs. One strategi that the company conducted was applying compost production to its plantations.

Last year, the company successfully produced 5.095 tons of compost. It minimized the dependence to purchase chemical fertilizers. Besides, TLDN initiated to develop (palm oil) plantations that took advantages on palm oil mill effluent (POME) and distributed to each block in the plantations. This reduced chemical fertilizer application. It becomes the commitment of the company to sustainable practices.

In association with plantation harvests, TLDN also reported to get increasing fresh fruit bunch (FFB) production up to 16,1% to be 303.107 tons in the first quarter of 2024 compared to the first quarter of 2023. It also increased crude palm oil (CPO) production up to 19,3% to be 82.725 tons and palm kernel (PK) production up to 11,8% to be 12.811 tons.

“The increasing production was the output of best sustainable practices, such as, consistency to apply fertilizers, maintain infrastructures, optimize the harvests, and take advantages on plantation and mill operational,” Wishnu said.

By having the achievements, TLDN keeps showing its commitment to optimize the business result while maintaining the efficient costs, caring about environmental impacts, as parts of the commitment of the company in sustainable business practices. (T2)

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