By Yi Wei Wong

Astra International said its first-quarter net profit rose sharply, supported by the recovery of the Indonesia's economy and higher commodity prices.

The Indonesian conglomerate's net profit rose 84% from a year earlier to 6.859 trillion Indonesian rupiah ($475 million) in the January-March quarter, the company said Wednesday.

Revenue rose to IDR71.871 trillion in the first quarter, compared to IDR51.700 trillion a year earlier.

Strong car sales and rising prices of coal and palm oil helped to boost earnings, Astra International said.

The top contributor to earnings was its heavy equipment, mining construction and energy business. Net profit from that business more than doubled to IDR2.585 trillion in the first quarter, driven by higher sales of heavy equipment and high coal prices.


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


(END) Dow Jones Newswires

04-27-22 2202ET