JAKARTA. The 13.3% increase in the cost of revenue of PT Bukit Asam Tbk (PTBA) in the first half to Rp 6.96 trillion, reduced the company's net profit by 24.44% from Rp 2.66 trillion to Rp 2.01 trillion (YoY).
PT Bukit Asam Tbk (PTBA) has just released a performance report for the first semester of 2019. According to the report, PTBA generated Rp 10.61 trillion in revenue, 1.14% higher than the record in the period of January-June 2018 of Rp 10.49 trillion. However, the company's cost of revenue rose by 13.3%, while its general & administrative expenses also rose by 31% to Rp 793.8 billion. All of these reduced the company's profit margin by 34.44%.
Coal was still the largest contributor to the company's revenue, reaching Rp 5.32 trillion. Sales to the State Electricity Company (PLN) being the largest source of revenue. reached Rp 3.2 trillion, followed by sales to PTIP (Rp 1.73 trillion). Meanwhile, third-party revenue fell by 13.44% to Rp 5.11 trillion. (AM/AR)