Jakarta - PT Pakuwon Jati Tbk (PWON) increased its net profit attributable to owners by around 48.76% to Rp1.382 trillion in 2021 from Rp929 billion the previous year.

The company's financial report, released on Thursday (7/4), revealed a 43.65% increase in revenue to Rp5.713 trillion from Rp3.97 trillion.

However, its cost of revenue swelled by around 44.86% to Rp2,949 trillion, from Rp2,036 trillion.

Pakuwon also had to accept the high net deficit financial instrument losses of about four times, to Rp98.099 billion from Rp25.712 billion. In addition, there is a penalty for the redemption of bonds of around Rp. 99.436 billion.

Selling expenses also increased by around 42.29% to Rp186,981 billion from Rp131.406 billion. Interest income also decreased by around 32.23%, to Rp136.946 billion from Rp202.313 billion.

Pakuwon, on the other hand, was able to pocket a portion of the associate's net profit of Rp7.612 billion, swinging