Jakarta - PT Gudang Garam Tbk (GGRM) recorded a profit attributable to owners for the January-September 2021 period of Rp4.134 trillion, down 26.79% from the same period last year of Rp5.647 trillion.

The financial report published on Friday (29/10), the high cost of goods sold by around 16.02% to Rp81.671 trillion from Rp70.391 trillion led to the lower profit.

Operating profit was also depressed by around 30.30% to Rp5,320 trillion from Rp7,633 trillion. GGRM managed to get a foreign exchange gain of Rp16.545 billion from a loss of Rp1.804 billion.

Nevertheless, GGRM managed to increase revenue by around 10.42% to Rp92.070 trillion from Rp83.375 trillion.

Until the end of September 2021, GGRM's total assets were at Rp83.251 trillion, with cash and cash equivalents of Rp4.068 trillion.