PT Asia Pacific Fibers Tbk (POLY) earned total revenues of US $ 88.64 million in the first quarter of 2021. This figure is divided into net income of US $ 87.67 million and other operating income of US $ 967,738.

The total revenue value for POLY was 1.38% (yoy) higher than the realization in the first quarter of 2020 amounting to US $ 87.43 million.

Quoting financial reports on the Indonesia Stock Exchange (IDX), most of POLY's net income in the first quarter of 2021 came from sales of fiber, yarn, chips and fleece (spinning) in the local market amounting to US $ 68.60 million. Meanwhile, sales of yarn, chips, fiber and fleece in the export market were recorded at US $ 19.01 million.

In the same period, POLY posted other operating income through sales of auxiliary goods of US $ 920,715 and non-standard products and others of US $ 47,024.

Meanwhile, POLY recorded cost of goods sold of US $ 81.03 in the first quarter of 2021 or a decrease of 1.87% (yoy) compared to the company's cost of goods sold in the first quarter of 2020 of US $ 82.62 million.

That way, POLY's gross profit until the first quarter of 2021 reached US $ 7.57 million or grew 57.70% (yoy) compared to POLY's gross profit in the same period last year of US $ 4.80 million.

POLY posted a foreign exchange gain of US $ 3.43 million in the first quarter of 2021. This figure is reduced by 57.65% (yoy) compared to the company's foreign exchange gain in the first quarter of 2020 of US $ 8.10 million.

This result affects POLY's profit before income tax which is at the level of US $ 2.99 million in the first quarter of 2021. This figure is 40.55% (yoy) lower than the realization in the first quarter of 2020 of US $ 5.03 million.

On the other hand, POLY still suffered a net loss attributable to owners of the parent company amounting to US $ 2.62 million in the first quarter of 2021. However, this number shrank by 39.21% (yoy) compared to the company's net loss in the first quarter of 2020 of US $ 4.31 million.

Until the end of the first quarter of 2021, POLY had total assets of US $ 233.10 million or an increase of 0.89% compared to total assets at the end of 2020 of US $ 231.03 million.

As of the first quarter of 2021, POLY has total liabilities of US $ 1.19 billion. At the same time, POLY posted a capital deficiency of US $ 960.24 million.