JAKARTA - Adaro Energy Tbk. generated US$ 118 million (Rp 1.7 trillion) in net profit in the first quarter of 2019, 58% higher than its record in the same period of last year.
Head of Corporate Communication of Adaro Energy, Febriati Nadira, said that the achievement was inseparable from the company's success in maintaining operational excellence, as well as improving efficiency in its business chain. "The company can produce solid operational performance, while also able to maintain healthy margins," he said as quoted from Katadata.co.id on Sunday (18/08/2019).
Adaro's net profit growth, explained Febriati, occurred at a time when four other coal companies were experiencing a decline in performance which caused lower profit record, even losses.
Adaro's net profit increase was supported by its revenue that rose by 11% to Rp2.8 trillion, while cost of goods only rose by 8% to Rp 6.6 trillion. As a result, the company's operating profit rose by 19% YoY to Rp 2.8 trillion. (ARM/AR)