TUGU – Net profit dropped by 46.9% yoy as costs surged in FY24
TUGU – Net profit dropped by 46.9% yoy as costs surged in FY24
Asuransi Tugu Pratama (TUGU) reported a 46.9% decline in profit attributable to owners of the parent, falling to IDR700.85 bn in 2024 from IDR1.32 tn in 2023. Despite the drop in profit, revenue grew to IDR3.93 tn, up from IDR3.59 tn. However, expenses surged to IDR3.01 tn from IDR1.96 tn, reducing profit before tax to IDR864.10 bn, down from IDR1.58 tn. Meanwhile, total liabilities rose to IDR15.84 tn as of December 31, 2024, compared to IDR14.85 tn a year earlier. (Source : Emiten News)