PT Erajaya Swasembada Tbk (ERAA) recorded 170.87% growth in profit for the year attributable to owners of the parent entity to Rp278.19 billion in the first quarter of this year compared to the same period last year of Rp.102.70 billion.

Based on the financial reports published on Monday (24/5), the company succeeded in increasing profits thanks to an increase in net sales of around 38.95% to Rp10.84 trillion from Rp7.80 trillion 

In addition, the company achieved a financial income of Rp1.11 billion, an increase of 78.33% from Rp623 million. The rate of financial costs was also successfully reduced by around 28.08% to Rp38.59 billion from Rp53.66 billion.

In line with the increase in net income, the cost of goods sold increased by 37.29% to Rp9.64 trillion from Rp7.02 trillion.

Meanwhile, the company's total assets in the first quarter of this year were at Rp. 11.98 trillion, with details of liabilities of Rp. 6.06 trillion and equit