PT XL Axiata Tbk (EXCL) in the first semester of 2021 posted a profit attributable to owners of the parent entity in the semester reaching Rp715.95 billion, down 58.93% compared to the same period in the previous year of Rp1.74 trillion.

The financial report released Thursday (5/8), the decline in profit achievement was triggered by the eroding of foreign exchange gains more than 20 times or from Rp23.05 billion to only Rp2.03 billion.

In addition, profits from the sale and leaseback of towers also fell to Rp207.57 billion compared to the same period of Rp1.85 trillion.

EXCL's revenue also decreased by about 0.85%, or from Rp13.08 trillion to Rp12.97 trillion.

Nevertheless, the company managed to reduce the pace of financial costs by around 10.67% to Rp1.17 trillion from the previous Rp1.31 trillion.

XL also pocketed a 4-fold increase in the share of net profit from associates to Rp8.61 billion from Rp2.41 billion.

As o