Astra Q1 Profit Falls on Mining Weakness as Diversified Units and Buybacks Cushion Blow

An announcement from Jardine Cycle & Carriage ( (SG:C07) ) is now available.

Astra International reported a 16% year-on-year drop in first-quarter 2026 net income to Rp5.9 trillion and a 6% decline in net revenue to Rp78.7 trillion, as minimal gold-mining contribution, weaker heavy equipment and mining services volumes, and non-recurring charges weighed on results, although net asset value per share rose 2%. Excluding non-recurring items, net income fell 8% to Rp6.8 trillion, with strong growth in agribusiness, infrastructure, IT, property and financial services partly offsetting heavy equipment weakness, while the group continued its capital-return strategy via a new Rp2.0 trillion share buyback and higher leverage following a gold-mine acquisition, amid expectations of challenging market conditions and geopolitical uncertainty.

Automotive and mobility earnings edged up 4% on stronger components and mobility operations despite softer car sales and continued fair-value losses on equity investments, while financial services grew 6% on larger loan books and improved insurance profits. The Heavy Equipment, Mining, Construction and Energy division’s net income slumped 79% due to halted gold sales at Martabe, lower coal-related demand and nickel and geothermal one-offs, even as United Tractors’ coal volumes rose and Martabe secured approval to resume operations, underscoring Astra’s exposure to commodity and regulatory cycles and the importance of diversification across its expanding non-mining businesses.

The most recent analyst rating on (SG:C07) stock is a Buy with a S$38.50 price target. To see the full list of analyst forecasts on Jardine Cycle & Carriage stock, see the SG:C07 Stock Forecast page.

More about Jardine Cycle & Carriage

Jardine Cycle & Carriage, through its main subsidiary PT Astra International Tbk, is a diversified Southeast Asian conglomerate with core businesses in automotive and mobility, financial services, heavy equipment and mining, agribusiness, infrastructure, information technology and property. Astra has a strong presence in Indonesia’s car and motorcycle markets and a significant footprint in mining services, toll roads and financial products, positioning it as a bellwether for the Indonesian economy.

Average Trading Volume: 190,876

Technical Sentiment Signal: Buy

Current Market Cap: S$13.06B

For detailed information about C07 stock, go to TipRanks’ Stock Analysis page.