This Company Owned By Conglomerate Prajogo Pangestu Earns Revenue Of Rp33.25 Trillion In The Third Quarter Of 2021

JAKARTA - PT Barito Pacific Tbk was able to record an increase in performance in the first nine months of this year. The revenue and profit of the company owned by the conglomerate Prajogo Pangestu grew significantly in the second quarter of 2021.

In Barito Pacific's financial report, quoted Monday, November 8, the issuer coded as BRPT shares recorded revenue growth of US$2.31 billion or equivalent to Rp33.25 trillion in the third quarter of 2021. This achievement increased 38.92 percent compared to the third quarter of 2020 of 1.66 billion US dollars.

Barito Pacific's main revenue was contributed by the company's petrochemical export sales which reached 410.9 million US dollars and the company's local petrochemical sales which reached 1.46 billion US dollars.

In addition, the company's revenue was also contributed by energy and electricity revenue of 173.4 million US dollars, energy rental income of 111.6 million US dollars, steam 80 million US dollars, finance lease income 31.4 million US dollars, carbon credit 1.9 million US dollars, and other revenues 37.1 million US dollars.

Until the third quarter of 2021, Barito Pacific also recorded an increase in cost of revenue by 28.95 percent to 1.67 million US dollars, from 1.29 million US dollars compared to the same period last year. Although the company's cost of revenue increased, BRPT's gross profit increased significantly by 74 percent from US$366.4 million to US$637.9 million year on year (yoy).

In line with this increase, the issuer whose controlling seat is occupied by tycoon Prajogo Pangestu was able to record a net profit for the period attributable to owners of the parent company of US$ 100.1 million. This net profit rose 407.56 percent compared to the same period last year of 19.7 million US dollars.

As for September 2021, Barito Pacific recorded an increase in assets to US$8.83 billion, from US$7.68 billion at the end of December 2020. The company's total liabilities decreased from US$4.74 billion on December 31, 2020, to 4. 6 billion US dollars on September 30, 2021.

Meanwhile, the company's total equity rose significantly, to USD 4.23 billion in the nine months of 2021, from USD 2.94 billion throughout 2020.