PT Indofarma (Persero) Tbk, in the first semester of 2021, posted a profit attributable to owners of the parent entity of Rp977.78 million, an increase compared to the same period the previous year, which suffered a loss of Rp4.66 billion.

The financial report published on Monday (2/8) showed the company's positive profit performance was boosted by net sales growth more than doubled from Rp447.29 billion to Rp849.32 billion.

However, Indofarma has not succeeded in reducing the cost of revenue. In the first six months of this year, the company's cost of revenue jumped by around 59.35% to Rp522.48 billion from Rp327.87 billion.

Selling expenses also increased by around 45.11% to Rp87.25 billion in the first semester of 2021 from Rp60.12 billion in the same period last year.

Meanwhile, Indofarma's total assets until the first semester of 2021 were at Rp. 1.951 trillion with liabilities and equity of Rp. 1.51 trillion and Rp. 431.31 bi