PT Krakatau Steel (Persero) Tbk recorded a net profit in the first quarter of 2021 of Rp329 billion.

"The company's performance also showed an improvement of 77% due to a significant increase in ebitda from Rp429 billion in the first quarter of 2020 to Rp758 billion in the first quarter of 2021," said KS President Director Silmy Karim in a press release, Wednesday (2/6).

He continued, an increase in sales value by 56% to Rp6.9 trillion from the previous Rp4.4 trillion supported the net profit.

Krakatau Steel managed to record an increase in cash flow from operating activities by 138.4% to Rp339.8 billion from Rp142.5 billion in the same period last year. The increase in operating cash flow was mainly due to increased cash receipts from customers by 48.6%.

"This has resulted in an increase in Krakatau Steel's cash and cash equivalent position to Rp1.7 trillion compared to the position in the first quarter of 2020 which wa