PT Merdeka Copper Gold Tbk (MDKA) posted a current period loss attributable to parent company owners amounting to US$4.98 million at the end of March 2021. In fact, for the same period last year, it recorded a profit of US$14.97 million.

Based on the financial reports published on Wednesday (19/5), this loss was triggered by the loss of hedging instruments in the framework of hedging cash flows during the first quarter of this year, which reached US$6.003 million from the same period last year with a profit of US$1.70 million.

In addition, operating income also decreased by around 55.15%, from US$103.78 million to US$46.54 million.

However, the company managed to reduce the cost of revenue by around 29.52% to US$48.77 million from US$69.21 million. The financial burden also more than tripled to US$1.95 million from US$4.55 million.

The company was also able to pocket other income of US$1.76 million from the previously recorded expense of aroun