PT Federal Karyatamas profit for the first nine months of 2015 jumped 36 percent year over year while its revenue dipped 3 percent in the same period. GP Petroleums Ltd.s profit rocketed nearly 186 percent for the quarter ending Sept. 30, compared to a year earlier, while its sales were down 26 percent.
Federal Karyatama (FKT), an Indonesian lube blender, posted a profit of 278 billion Indonesian rupiah (U.S. $20.3 million) for the nine months ended Sept. 30, up from IDR 204 billion in the corresponding period last year. Its revenue shrank 3 percent to IDR 1.17 trillion compared to IDR 1.21 trillion.
Owned by parent company PT Mitra Pinasthika Mustika Tbk, FKT is represented as the groups auto consumer parts segment, and is comprised of MPMs Federal Oil and Federal Mobil brands of passenger car and motorcycle oils.
Sales volumes for FKT contracted 8 percent in the first three quarters of 2015 to 43,667 kiloliters, compared to 47,355 kl in the same period of 2014.
FKT launched its passenger car motor oils brand, Federal Mobil, this year via more than 1,000 retail workshops in Indonesia. Its Federal Oil brand of two-wheeler lubricants is sold through 35,000 distributors and more than 20,000 outlets nationwide.
FKT holds around 20 percent of Indonesias market for two-wheeler lubricants, and its revenue for the segment has a three-year (2012-2015) compound annual growth rate of 6 percent.
The lubricants business made up 54 percent of MPMs net profit in the first nine months of the year.
The Jakarta-based producer said in a recent statement that its profit increased in the period due in part to lower costs of goods sold.
FKT will continue to focus on growing Federal Oil sales volume from a new distribution center in East Java, and to place emphasis on strengthening its Federal Mobil sales channel in Surabaya. It also plans to increase business-to-business sales for its Federal Mobil brand.
GP Petroleums, which is majority owned by Gulf Petrochem and formerly known as Sah Petroleums, is a Mumbai-based lubes producer. Its net profit for the three-month period was Rs 1.67 crore (Rs 167 million or U.S. $253 million), compared to Rs .58 crore in the same period last year.
The producer of the Ipol brand of lubricants said its sales for the quarter ending Sept. 30 reached Rs 81.74 crore, down 26 percent from last years Rs 110.8 crore. Its total expenses also declined this quarter compared to 2014s third quarter, at Rs 76.4 crore, down from just over Rs 106.4 crore.