Jakarta - PT Perusahaan Gas Negara Tbk (PGAS) recorded profit growth for the year attributable to owners for the January-September 2021 period of 437.41% to US$266.21 million compared to the same period the previous year of US$53.25 million.

The company's financial report released on Monday (1/11) revealed that the increase in profit was driven by an increase in revenue of around 4.78% to US$2.25 billion from US$2.15 billion.

In addition, PGAS earned a foreign exchange gain of US$19.61 million from a previous loss of US$26.86 million.

The share of profits from joint ventures also more than doubled to US$75.1 million from US$34.01 million.

PGAS also received a provision reversal from the tax dispute amounting to US$65.17 million.

Operating profit also grew 3.33% to US$326.02 million from US$315.48 million.

As of the end of September 2021, the company's total assets were recorded at US$7.54 billion, with cash and cash