Jakarta - PT Pelat Timah Nusantara Tbk (NIKL) achieved a 58.47% jump in net profit for the year to US$7.542 million as of September this year from the same period last year of only US$4.759 million.

The company's financial report on Thursday (10/27) showed that the more robust net profit was supported by high sales of around 38.60% to US$197.859 million from US$142.749 million.

Along with the high sales achievement, the cost of goods sold also swelled by around 37.95% to US$180.097 million from US$130.551 million.

In addition, NIKL had to accept an increase in foreign exchange losses of more than three times to US$2.052 million from US$642,023.

As of September 2022, NIKL's total assets were US$205.250 million, with liabilities of US$144.855 million and equity of US$60.394 million.

Meanwhile, the cash and cash equivalent position at the end of the period was US$29.838 million.