Jakarta - PT XL Axiata Tbk (EXCL) recorded a profit growth for 2021 by 246.9% to Rp1.287 trillion from the previous year of only Rp371 billion.

The company's financial report released on Monday (21/2) showed that the strengthening profit was supported by a high foreign exchange gain of 20.58% to Rp9.506 billion from Rp7.883 billion.

In addition, XL managed to reap other income of Rp230.325 billion from the previous burden of around Rp42.413 billion. XL also reduced the depreciation rate by about 19.91%, bringing it down to Rp9.956 trillion from Rp12.432 trillion.

Meanwhile, XL's business income was relatively stagnant at a level of Rp 26.744 trillion, down from Rp26.009 trillion.

Until December 2021, XL's total assets were at Rp72.752 trillion, with liabilities of Rp52.6 trillion and equity of Rp20.088 trillion.

Meanwhile, the company recorded the cash and cash equivalents at the end of the period at Rp2.664 trillion.