Jakarta - PT Rukun Raharja Tbk (RAJA) increased its profit attributable to owners by approximately 220.25% in the first quarter of this year, to US$1.976 million, from US$617,463 in the same period last year.

The company's financial report released on Friday (6/3) showed that the surge in profit for the year was supported by the high profit of the subsidiary, about doubling to US$2.156 million from US$1.231 million.

RAJA also managed to reduce the rate of foreign exchange loss by around 87.61%, to US$49,340 from US$398,419. The bank loan refinancing expense shrank five times to US$112,463 from US$532,739.

Other income reached US$134,292 previously recorded as an expense of around US$405,360.

In addition, RAJA's revenue also increased by 5.72% to US$27,556 million from US$26,063 million.

However, its cost of revenue increased by around 5.15% to US$22.746 million from US$21.631 million.

As of the first quarter of this