Jakarta - PT Indo Tambangraya Megah Tbk (ITMG) posted a surge in profit for the year attributable to owners throughout 2021 by around 1,287% to US$461.910 million from the previous year's only US$33,288 million.

The company's financial report published Friday (25/2) showed a higher net income of around 75.18% to US$2.076 billion, from US$1.185 billion, leading to the strengthening of the profit.

The company also recorded an increase in the cost of revenue of around 17.64%, to US$1.160 billion from US$986 million.

Selling expenses also increased by 33.71%, to US$100.418 million from US$75.101 million. The company successfully reduced the financial burden by about 22.57%, to US$2.689 million from US$3.473 million.

ITMG's total assets were valued at US$1.666 billion at the end of December 2021, with year-end cash and cash equivalents of US$690.970 million.