Jakarta - PT Gudang Garam Tbk (GGRM) posted a profit attributable to owners of around Rp956.14 billion, down 60.48% in the first half of 2022 from the same period last year, which reached Rp2.419 trillion.

The company's financial report published on Friday (7/29) showed that the high-interest expense of GGRM was more than five times or from Rp32.630 billion to Rp165.523 billion, dragging the profit lower.

In addition, its operating profit has shrunk about three times, from Rp3.033 trillion to Rp1.395 trillion.

The cost of goods sold also jumped by about 4.37%, to Rp56.536 trillion from Rp54,166 trillion.

Operating income increased only about 1.82% to Rp61.672 trillion from Rp60.568 trillion.

Other revenues decreased by around 27.22% to Rp134,664 billion from Rp185.037 billion.

However, GGRM managed to increase its net foreign exchange gain by around 75.83%, to Rp16.045 billion from Rp9.125 billion.

Until June