PT Chandra Asri Petrochemical Tbk (TPIA) succeeded in creating a net profit after tax during the first quarter of 2021 of US$88.382 million, swinging from US$17.839 million in the same period last year.

An increase in revenue of around 25.49% to US$598.408  million against US$476,834 million the first quarter in 2019 supported the profit. Higher average selling prices for all products, particularly ethylene, polyethylene, and polypropylene, were driven by higher average selling prices for all products, particularly ethylene, polyethylene, and polypropylene.

The cost of revenue was also successfully reduced by 8.63% to US$450.807 million from US$493,429 million. Lower raw material consumption was offset by the increase in the average naphtha price to US$534/T from US$521/T tracking, the increase in the price of Brent crude oil by around 21% to US$61 per barrel from US$50 per barrel.

The company's Ebitda also turned positive at US$147 million fro