JAKARTA. The revenue of Bumi Resources Minerals (BRMS) grew by 193.22% year-on-year (YoY) from US$ 1.18 million in Q3 2018 to Rp 3.46 million in Q3 2019. In addition, BRMS also managed to record a net profit of US$ 1.02 million, after losing US$ 93.95 million by Q3 2018.
The company gained revenue from mining advisory services provided by the company for Bellridge Holdings Limited (Bellridge). In addition, the company also managed to reduce its operating expenses by 21.95% to US$ 3.45 million.
However, BRMS' debt increased slightly by 0.8% from US$ 171.81 million to US$ 173.19 million, mainly caused by the increase in the company's short-term debt from US$ 903,286 to US$ 32.29 million.
The improved performance encouraged investors to buy BRMS shares. As a result, the price of BRMS shares at the end of the first session rose by 15.38% to Rp 60 / share. The number of shares traded reached 539,356,000 shares with a total value of Rp 30,811,602,400. (AM/AR)