JAKARTA. PT Bumi Resources Tbk (BUMI) announced that its total coal sales in the third quarter of 2019 reached 63.1 million tonnes, up 5% year on year (yoy).
The growth was supported by the production performance of its two subsidiaries, KPC and Arutmin, with growth of 12% and 9% yoy respectively. KPC's total coal production in Q3 reached 45.5 million tonnes, while Arutmin's production reached 17.6 million tonnes.
Based on the company's financial statements, BUMI's net profit was recorded at US$ 76 million in Q3, down 63% yoy.
Meanwhile, BUMI's consolidated net profit from January to September (9M) in 2019 reached US$ 171 million, down 50% from US$ 343 million in the same period last year.
BUMI Director and Corporate Secretary Dileep Srivastava said that the performance drop was caused by fluctuating global cooal prices. Coal price realisation in 9M, said Mr Srivastava, fell 11% to US$ 52.6 per tonne from US$ 59.4 per tonne. (KR/MS)