State steel producer Krakatau Steel (KRAS) booked a net profit of US$23.08 million in the first quarter (Q1) of 2021, dropped 71% from US$80 million in the same period of 2020, while revenue grew 55.6% to US$484 million from previous US$311 million. However, operating profit fell 26% to US$39 million from earlier year US$53.6 million, due to higher selling expenses and a significant drop in other operating income. 

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