GGRM - Recorded net profit growth 243.90% yoy in 1H23

In 1H23, Gudang Garam (GGRM) net profit soared 243.90% yoy to IDR3.28 tn on the back of a significant decline on COGS. The surge in GGRM's bottom line occurred amid a decline in revenue by -9.43% yoy to IDR55.85 tn. Therefore, gross profit was able to reach IDR7.93 tn (+35.44% yoy). (Source : Bisnis Indonesia)