Jakarta - PT Golden Energy Mines Tbk (GEMS) recorded a surge in net profit for the current period attributable to owners for the January-September 2022 period of around 140.62% to US$472.878 million from US$196.524 million in the same period last year.

The company's financial report published on Monday (11/14), the strengthening of profit was supported by the high revenue from contracts with customers, about doubling to US$2.064 billion from US$1.057 billion.

Along with stronger revenues, the cost of goods sold approximately doubled to US$1.132 billion from US$572.196 million.

Operating profit has almost tripled to US$630.343 million from US$274.924 million.

Total assets were recorded at US$1.025 billion at the end of September 2022, with US$579.837 million in liabilities and US$445.326 million in equity.

The position of cash and cash equivalents and cash equivalents at the end of the period was recorded at US$236,955 million.