JAKARTA - PT Indika Energy Tbk (INDY) pocketed profit for the current period worth of US$ 9.45 million in the third quarter of 2019, this achievement was eroded 92.73% compared to the same period last year of US$ 130.15 million. The decline in profit performance was due to a decrease in revenue and an increase in revenue, sales, general and administrative expenses, and a decline in the value of assets.
As quoted in the third quarter of the 2019 Financial Report, INDY recorded revenues of the US$ 2.07 billion, down compared to the same period last year, revenues of US$ 2.18 billion. This decline in income was due to weakening coal demand in the export and domestic markets related to the issue of renewable energy.
INDY recorded coal sales in the export market of US$ 1.04 billion, down from US$ 1.27 billion. While sales in the domestic market were US$ 390.99 million, down from US$ 413.15 million. While sales to third parties amounted to US$ 597.08 million, up from US$ 490.48 million, and other sales of US$ 45.31 million.
Third party customers include, BP Berau Ltd, PT Indonesia Pratama, PT Freeport Indonesia, PT Binuang Mitra Bersama, PT Maruwai Coal, CSTS Joint Operation, and PT Jakarta Tank Terminal, PT Adaro Indonesia, PT Pertamina Trans Continental, ENI Muara Bakau BV , PLN, PT Indonesia Cemerlang, and Exxon Mobil Cepu Ltd. (LK)