PT Jasa Armada Indonesia Tbk (IPCM), a unit of Pelindo group focusing business on pilotage and towage services, posted a 3.03% rise in net profit in the first quarter (Q1) of 2026, supported by steady growth in its core ship services business.
The company reported net profit of 45.57 billion rupiah ($2.8 million) for the January–March period, up from 44.24 billion rupiah a year earlier, according to its financial statement released on Tuesday.
Revenue was largely driven by ship services, which accounted for 334.51 billion rupiah, or about 96% of total revenue. Income from transportation and other services rose 11.12% year-on-year to 12.71 billion rupiah.
Ship service revenue included 155.73 billion rupiah from public ports, 114.11 billion rupiah from special terminals, and 64.68 billion rupiah from terminals for private use. Revenue from public ports and private-use terminals grew by 2.50% and 5.14%, respectively.
Total assets rose 4.39% to 1.79 trillion rupiah at the end of March, from 1.71 trillion rupiah at end-2025.
Operating cash flow increased 36.29% to 102.10 billion rupiah, compared with 74.91 billion rupiah in the same period last year, as the company maintained stable operations despite geopolitical uncertainties.
IPCM also reduced operating and administrative expenses as part of efficiency measures aimed at preserving profitability and strengthening its financial position.
“Amid global economic challenges, IPCM remains optimistic about improving its performance in 2026 by maintaining strong business fundamentals, strengthening partnerships, optimizing fleet and crew, and prioritizing safety,” President Director Shanti Puruhita said in a statement.
During the quarter, IPCM extended its pilotage and towing services agreement with PT Cemindo Gemilang Tbk at the Bayah special terminal in Banten. The company also expanded operations in South Sumatra, offering ship-to-ship transfer services in the Musi River area in collaboration with shipping firms and cargo owners.
The company said the expansion supports Indonesia’s logistics distribution by improving maritime safety and efficiency.