JAKARTA -- Indonesian carmaker PT Astra International Tbk reported on Friday a 28.4 percent jump in its net profit in the first nine months of the year, despite sales only increasing 6.5 percent.
The company did not explain the gains, but they may be due to the sale of investments worth some 1.5 trillion rupiah ($176.5 million), compared with just 204 billion a year ago.
Earlier this year, the company sold a stake at its manufacturing unit for around $226 million to Japan's Toyota Motor Corp.
Astra is 35.05 percent owned by Singapore's Cycle & Carriage Ltd. The Singapore firm said on Thursday that Astra was the most significant component in an increase in its own profits.
Astra shares were unchanged at 4,375 rupiah on Friday afternoon. They have gained more than 80 percent this year, partly on a stronger rupiah currency.
Analysts say the strengthening rupiah will help the company service its foreign denominated debts.