Nickel miner Vale Indonesia (INCO) booked a net profit of US$33.69 million in the first quarter (Q1) of 2021, grew 13.8% year on year (y/y) as revenue rose 18.4% to US$206.5 million. It grew 7% compared to Q4 for 2020. INCO maintained its cost of revenue at US$154 million. Its gross profit was US$51.7 million in Q1 of 2021–a 160% jump y/y to US$51.7 million. Meanwhile, operating profit surged 166% to US$48 million.

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