JAKARTA - PT Mitra International Resources Tbk (MIRA) managed to generate Rp 11.73 billion in current period's profit by the third quarter (Q3) of 2019, higher than its record in Q3 2018 of Rp 5.37 billion, mainly due to better efficiency and lower taxes.
As quoted from the company's financial statements, MIRA's revenue by Q3 2019 was recorded at Rp 96.05 billion, higher than its record in Q3 2018 of Rp 95.95 billion. However, its gross profit actually fell by almost Rp 2 billion YoY from Rp 22.51 billion to Rp 20.58 billion, due to higher cost of revenue.
The company managed to reduce its other expenses from Rp 8.84 billion to Rp 334 million, which enabled it to record pre-tax profit of Rp 11.52 billion, from Rp 4.78 billion recorded in Q3 2018.
Most of the company's revenue came from its transportation business (Rp 91.76 billion). (LK/AR)