PT Siloam International Hospitals Tbk (SILO) in the first three months of 2021 posted net profit growth of around 672% to Rp150 billion compared to the same period last year, Rp19.5 billion.

The growth in net profit was supported by an increase in the company's revenue. The hospital operator's revenue in the first quarter increased by around 32.5% to Rp1.91 trillion from Rp1.44 trillion.

"The increase in profitability has been driven by the management's continued focus on creating revenue and cost management strategies, as well as the implementation of the Covid-19 treatment and testing program," said Siloam's Managing Director, Ketut Budi Wijaya, in a press release, on Wednesday (28/4).

Meanwhile, Siloam's free cash flow position reached Rp510 billion as of the end of March this year, increasing almost two times from the same period last year of Rp294 billion. Operating cash flow also grew 49.2% to Rp622 billion from Rp417