Jakarta - PT Medco Energi International Tbk (MEDC) managed to book a profit for the period attributable to owners of the entity for the period January-September 2021 of US$56.123 million from a loss in the same period last year of US$180.508 million.

Referring to the company's financial report released on Monday (20/12), Medco's ability to make a profit was supported by its high revenue of around 12.87% to US$955.921 million from US$846.904 million.

In addition, Medco managed to reduce the cost of revenue and other direct costs by around 0.39%, or from US$582,384 million to US$580,111 million.

Medco also managed to collect a fair value measurement gain of US$47,226 million, profit from associates and joint ventures increased almost ten times to US$46,846 million from US$4,969 million, gain on fair value adjustment of financial assets also grew 1,370% to US$22,865 million from US$1,555 million.

Meanwhile, Medco's total assets reache