JAKARTA. PT Medco Energi Internasional Tbk (MEDC) posted a net profit of USD 47 million as of September (9M) 2021, turning the tables after a loss of USD 188.9 million throughout last year.
Based on the recently released financial report, MEDC’s net profit until this September was supported by the gain in its revenue, reaching USD 955.9 million. It climbed 12.9% from the position reported in the same period last year.
Specifically, USD 926.6 million of the total revenue came from the users’ contracts. Meanwhile, another USD 29.3 million were financial income.
Based on its goods or services, oil and gas sales contracts brought in USD 845.9 million to MEDC’s total revenue. Then, it was followed by construction contracts that generated USD 33.56 million, electricity installation contracts USD 19.7 million, operational contracts and services USD 17.8 million, and other services USD 9.5 million.
As of September 30, 2021, MEDC’s total assets amounted to USD 5.28 million, with cash and cash equivalents of USD 482.26 million. Lastly, its total equity reportedly reached USD 1.23 billion. (KR/ZH)