Jakarta - PT TBS Energi Utama Tbk (TOBA), as of the first quarter of 2022, posted a profit for the period attributable to entity owners of around US$9.29 million, an increase of 4.29% compared to the same period in the previous year of US$8.90 million.

In the financial report released on Monday (5/30), the increase in profit was supported by revenue growth of around 31.38%, to US$110.91 million from US$84.41 million.

However, the cost of revenue also increased by around 21.74%, to US$87.47 million from US$71.84 million.

As for the first quarter of 2022, the company's total assets reached US$867.59 million, with liabilities of US$505.54 million and equity of US$362.05 million.