<![CDATA[Indonesia became the first ASEAN country to become an official partner of Hannover Messe three times, confirming its position as an emerging economic power and a major player in the global manufacturing industry. One of the strategic sectors that supports this position is the pulp and paper industry, where Indonesia ranks eighth in the world in pulp production and sixth in paper production. This study aims to determine Production Costs, Cost of Goods Sold (COGS), and Net Profit, and analyze the effect of Production Costs and COGS on Net Profit, both partially and simultaneously, in pulp and paper subsector manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the period 2016–2024. The research method uses a quantitative approach with panel data processed through the EViews 13 application. From a population of 180 manufacturing companies on the IDX, 4 companies were selected by purposive sampling, namely PT Alkindo Naratama Tbk (ALDO), PT Indah Kiat Pulp & Paper Tbk (INKP), PT Suparma Tbk (SPMA), and PT Pabrik Kertas Tjiwi Kimia Tbk (TKIM), resulting in 36 observations. The Random Effect Model (REM) was selected as the best model. The results of the study indicate that Production Costs and COGS significantly influence Net Profit, both partially and simultaneously. The coefficient of determination shows an influence of 22.31%, while 77.69% is influenced by other variables outside the model.]]>
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