Jakarta - PT Bayan Resources Tbk (BYAN), as of January-September 2021, posted an attributable profit for the current period of US$650.32 million, an increase of 500.88% compared to the same period in the previous year of US$108.22 million.

The financial report published on Monday (29/11) revealed that the profit surged thanks to the company's success in achieving a change in the fair value of cash flow hedges of US$69.90 million from a loss of US$80.43 million.

The company's revenue also increased by around 74.37% to US$1.74 billion from US$1.003 billion.

In addition, BYAN also managed to reduce the cost of revenue by 4.27% to US$672.53 million from US$702.70 million.

The company's total assets for the period ending September 2021 were at US$1.86 billion, with liabilities of around US$593.95 million and equity of US$1.27 billion.