Throughout 2020, PT Indah Kiat Pulp and Paper Tbk (INKP) posted a net profit attributable to the owners of the parent company of US$294.05 million or grew 7.17% compared to the previous year period of US$274.37 million.

In the financial report published on Friday (9/4), the achievement of profit growth was triggered by an eight-fold decrease in foreign exchange losses or from US$19.70 million to only US$3.17 million.

However, the company's net sales decreased by around 7.35%, from US$3.22 billion to US$2.98 billion. The cost of goods sold also increased by 9.5%  to US$2.12 billion from US$2.34 billion.

Also, the company operating expenses swelled during 2020 by around 4.88%  to US$331.38 million from US$315.93 million.

As of the end of December 2020, the company's total assets reached US$8.49 billion, with details of US$4.246 billion in liabilities and US$4.24 billion in equity.