PT Vale Indonesia Tbk (INCO) in the first quarter of 2021 posted a net profit of US $ 33.69 million or an increase of 16.37% compared to the same period last year of US$28.95 million.

President Director and CEO of Vale Indonesia Nico Kanter said that along with profit, the company's revenue rose 18.2% to US$206.5 million compared to the same period last year with US$174.65 million.

"We benefited from the increase in nickel prices in the first quarter of this year. At the same time, the company has also managed to control operational costs amid the rising fuel and coal prices," he stated on Tuesday (27/4).

Vale Indonesia's cash and cash equivalents as of March 31, 2021, it was recorded at US$386.2 million, down slightly from the position as of December 31, 2020, of US$88.7 million.