Insider Stories - Traditional cosmetics manufacturer Mustika Ratu saw its first nine-month profit declined 3.75 percent, amid inflation pressure and depreciating rupiah.

Net income of Mustika Ratu, a company founded by Mooryati Soedibjo, fell to Rp 10.6 billion in July-September period from Rp 15.22 billion.

The falling cost of goods sold could not offset the weaker sales.

The company's COGS actually fell to Rp 123.9 billion from Rp 141.33 billion, but overall sales declined sharply to Rp 284 billion from Rp 321 billion.

Fransisca Sestri, General Manager of Finance at Mustika Ratu blamed the impacts of the global economic slowdown to have hurt the company's earnings.

She did not elaborate, but said she believed this is also impacting other companies all over the world.

Indonesian consumers have been coping with high interest rate environment, soaring inflation and depreciating rupiah - all are factors that errode their disposable income.