Jakarta - PT Timah Tbk (TINS) net profit growth soared by around 5,713% to Rp601 billion in the first quarter of this year from the same period last year of only Rp10.343 billion.

"The support is the increase in tin prices. This is also due to the company's effectiveness in reducing operational costs, "said Timah Finance Director Krisna Sjarif in a press release on Thursday (5/19).

He continued, Timah's revenue also jumped 80% to Rp4.4 trillion, increasing operating profit performance of around 575% to Rp885 billion from Rp131 billion."

"The increase in Timah's profitability can also be seen from the growth in EBITDA of around 213% to Rp1.1 trillion from Rp347 billion," he added.

Total assets were at Rp14.4 trillion as of March this year, with liabilities of Rp7.4 trillion and equity of Rp7 trillion.

Meanwhile, Timah's operating cash flow increased by 111% to Rp2.1 trillion from the previous R