Textile company PT Indo-Rama Synthetics Tbk. (INDR) posted an increase in performance in the third quarter of 2021. The company, owned by the 3rd richest person in Indonesia, Sri Prakash Lohia, posted a 44.44 percent increase in net income to US$638.6 million in the third quarter of 2021 or equivalent to Rp9.1 trillion (the Jisdor exchange rate on November 3 was Rp14,301 per US dollar). from US$442.16 million in the third quarter/2020. Based on the INDR financial report quoted Thursday (11/4/2021), this revenue was contributed by the yarn spinning segment which increased 47.6 percent to US$474.6 million, from US$321.4 million year-on-year (Year-on-year). yo).

Another segment that contributed to the company's revenue growth was polyester, which grew 41.2 percent to US$281.2 million, from US$199.1 million yoy.

In addition, revenue from the company's fabric segment also increased 48.37 percent from US$16.6 million to US$24.7 million yoy.

The increase in Indorama's revenue also helped increase INDR's cost of revenue to US$551.5 million. This expense account was up 31.3 percent from US$420 million on an annual basis.

Despite the increase in cost of revenue, the company was still able to record a gross profit of US$87.1 million, up 294.5 percent from US$22 million yoy.

With this improved performance, profit for the period attributable to owners of the parent company also increased from US$2.36 million as of the end of September 2020, to US$54.5 million at the end of September 2021.

Until the first nine months of 2021, the company's total assets increased to US$847.3 million, from US$763.8 million throughout 2020.

The company's total liabilities also increased from US$387.3 million as of December 2020, to US$412.8 million as of September 2021.

The total equity of INDR also increased to US$434.4 million at the end of September 2021, from US$376.4 million from the end of 2020.

For today (Thursday, 04/11), INDR's share price closed up 1.15% or 50 points to a price of Rp4410 per share, from its closing price yesterday afternoon, at Rp4360 per share.