By Yi Wei Wong


Indonesian conglomerate Astra International grew its net profit 43% in 2022 on the strong performances of its mining, automotive and lending segments.

Astra's net profit rose to 28.944 trillion rupiah ($1.90 billion) in 2022 from IDR20.196 trillion the previous year, it said in a release late Monday.

Revenue climbed to IDR301.379 trillion from IDR233.485 trillion.

Net profit from Astra's heavy-equipment and mining division more than doubled in 2022, which it attributed to the record-high coal prices.

Net profit from its automotive segment rose 33% for the year due to high sales volumes for cars and motorcycles, while net profit from its lending business increased 22%, which the company attributed to a rise in consumer loans.


Write to Yi Wei Wong at yiwei.wong@wsj.com


(END) Dow Jones Newswires

02-27-23 1935ET