RCL is pleased once again to report another phenomenal profit for the Group in 3Q 2021 at THB 3,730 million. This amount even beats the record profit of THB 3,188 million, achieved in 2Q 2021. It represents a 17% profit growth for the quarter. Compared to 3Q 2020, the rate of growth is amplified to 1,349 % from the profit of THB 257 million. These figures show a continuing increased profit growth trend since the third quarter of last year.
The highest quarterly profit in 3Q 2021 was made possible by the improvement in freight income to more than THB 16,000 per TEU, some 13% over 2Q 2021 and 132% over 3Q 2020. The lifting in 3Q 2021 also increased by 4% compared to 2Q 2021. Cost of freight and operation increased during the reporting period due to the spike in demand for chartering, port congestion, and the price of bunker. These costs in all increased 20% QonQ and by 42% YonY. Through proper planning, we have been able to cap these cost increases and hence maintain better performance.
For the nine months of 2021, RCL made a net profit of THB 9,859 million or 1,931% over THB 485 million profit of the same period of 2020. Total revenue grew some 99% to THB 24,363 million in 2021 from THB 12,253 million in 2020. However, because of the reasons mentioned above, total cost increased only 25% during the period. In other words, the growth in revenue has been able to outpace the increase in cost. This is also attributable to the fact that RCL has fulfilled additional demand for its service in certain routes. These opportunities arose more in the third quarter of this year and show signs of continuing into the next quarter. Altogether with two additional 6,000 TEU ships recently acquired, they could heighten the volume handled in 4Q 2021.
In summary, the RCL performance in 2021 is as follows