Jakarta - PT Pertamina 2021 posted a profit for the year after the profit adjustment effect of merging entities reached US$2.23 billion or a 172.26% jump compared to the same period the previous year of US$822.86 million.

The financial report released on Friday (6/10) showed that the surge in profit was triggered by the high number of sales and other operating revenues of around 38.67 percent to US$57.50 billion from US$41.46 billion.

The state-owned oil company also reduced other expenses by around 15.53 percent to US$3.96 billion from US$4.69 billion.

However, the rate of cost of goods sold and other direct expenses has not been able to be suppressed and increased by around 43.55% to US$49.54 billion from US$34.51 billion.

Until the end of 2021, Pertamina's total assets were at US$78.05 billion, with liabilities of US$44.72 billion and equity of US$33.32 billion.