Jakarta - PT Indika Energy Tbk (INDY) in the first quarter of 2022 posted a net profit for the period attributable to owners of US$75.04 million, an increase compared to the same period in the previous year, which suffered a loss of US$9.36 million.

In the financial report released Monday (5/23), the company revealed that the positive net profit achievement was supported by a 58.19% increase in revenue to US$ 830.79 million from US$ 525.16 million.

However, the cost of contracts and sales increased by around 36.08%, to US$570.02 million from US$418.85 million.

As of the first quarter of 2022, INDY's total assets reached US$3.99 billion with liabilities of US$2.997 billion and equity of US$1.002 billion.