Jakarta - PT Medco Energi Internasional Tbk (MEDC) recorded a profit increase for the period attributable to owners of around 614.37% to US$400.929 million at the end of September 2022, compared with a similar period last year of only US$56.123 million.

The company's financial report, released on Thursday (12/1) showed that the revenue doubled to US$1.807 billion from US$955.921 million, boosting profits.

The cost of revenue and other direct costs also swelled by around 55.65% to US$902.962 million from US$580.111 million.

Additionally, Medco recorded a fourfold increase in profits from associates and joint ventures to US$168.514 million from US$46.846 million and gains from discount purchases of US$46.061 million from $0.

Other income increased about four times to US$44.827 million from US$11.638 million.

At the end of September 2022, Medco Energi's total assets were recorded at US$6.872 billion, with liabilities of US$5.232