KONTAN.CO.ID - JAKARTA. Finance company PT Bussan Auto Finance (BAF) recorded a decline in net profit throughout 2024.

Reporting from the company's financial report, BAF's net profit for the current year fell by 18.04% year on year (YoY) to IDR 303.70 billion in 2024. In the same period the previous year, the company's net profit reached IDR 370.55 billion.

This decrease in profit occurred along with the increase in the company's expenses which increased by 4.99% annually, from IDR 4.09 trillion in 2023 to IDR 4.29 trillion in 2024.

Meanwhile, BAF's total revenue grew by 2.54% YoY, from IDR 4.56 trillion to IDR 4.68 trillion throughout 2024.

Meanwhile, BAF's total assets increased slightly by 0.42% YoY to IDR 14.16 trillion in 2024, compared to the previous year which was recorded at IDR 14.10 trillion.

On the other hand, the company's equity grew by 7.90% YoY to IDR 2.93 trillion in 2024, when compared to the same period the previous year of IDR 2.71 trillion.

Meanwhile, BAF's total liabilities decreased by 1.36% YoY. In 2023, the company's liabilities were at IDR 11.38 trillion, now down to IDR 11.22 trillion in 2024.