Petrochemical firm Chandra Asri Petrochemical (TPIA) suffered a loss of US$17.5 billion in the first quarter (Q1) of 2020, against a profit of US$17.6 million in the corresponding period of 2019. Revenue fell 13.6% to US$477 million as a result of lower average sales product prices, particularly for Olefins and Polyolefins, with relatively stable sales volume. Its cost of revenue rose 0.6% to US$493 million. The Company recorded a gross loss of US$16.6 million for the said period, against profit US$61.9 million in Q1 of 2019.
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