JAKARTA - PT Timah Tbk (TINS) has generated Rp 14.6 trillion in sales revenue in the third quarter (Q3) of 2019, 115% higher than the figure recorded in Q3 2018 of Rp 6.8 trillion. This was mainly caused by higher sales volume.
As quoted from company disclosure, as of Q3 2019, the company managed to sell 50,326 metric tons (MT) of tin, 149% higher compared to the figure recorded in Q3 2018 of 20,174 MT. The company's production volume also rose from 20,174 MT to 58,157 MT.
Despite this, the company's gross profit fell by 2% from Rp 1.08 trillion recorded in Q3 2018 to Rp 1.06 trillion, mainly due to higher cost of revenue, production costs, and interest expenses. (LK/AR)