TURI reported Q110 net profit of Rp75 bn (-46% YoY, flat QoQ). Stripping out Q109’s one-off 51% stake divestment in the subsidiary (Rp103 net gain), however, TURI’s Q110 net profit grew by 105% YoY.
TURI Q110 revenue stood at Rp1.8 tn (+73% YoY, +33% QoQ), supported by 70% and 90% YoY increase in cars and motorcycle sales volume to 8,200 units and 32,500 units respectively.
TURI’s Q110 bottom line is 69% contributed by the auto dealership division, the remaining 18% and 14% from rental and finance division.
strong set of Q110 numbers. We heard on the Street that TURI is proposing stock-split in the next AGM.
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