PT Indofarma Tbk (INAF) swung to record a profit attributable to the parent company owners in the first quarter of this year, amounting to Rp1.89 billion from the same period the previous year lost up to Rp21.42 billion.

Based on the financial reports published on Tuesday (11/5), the positive performance of this profit was supported by the strengthening of net income, which more than doubled or from Rp148.16 billion to Rp373.20 billion.

In addition, Indofarma also managed to pocket an operating profit of Rp15.29 billion from an operating loss of Rp19.46 billion.

Unfortunately, Indofarma's cost of goods sold increased by around 66.63% to Rp198.19 billion from Rp118.93 billion.

Meanwhile, Indofarma's total assets were at Rp1.82 trillion, consisting of liabilities and equity of Rp1.38 trillion and Rp432.14 billion, respectively. Meanwhile, the position of cash and cash equivalents at the end of the period was at Rp19.90 billion.