JAKARTA. PT Petrosea Tbk (PTRO), a mining company owned by the Indika Group, managed to record a 35.82% net profit growth to US$ 31.17 million in 2019.
The increase in net profit was supported by the company's revenue, which grew by 2.40% in 2019 to US$ 476.44 million.
For information, PTRO recently signed an agreement for capital participation in Nusantara Resources Limited (NRL). The capital will be used in a gold project worked on by an NRL subsidiary, PT Masmindo Dwi Area.
Romi Novan Indrawan, Director of PTRO, said the agreement was a further collaboration with PT Indika Energy Tbk (INDY). "As a continuation of the signing of the non-binding term sheet on 25 February 2020, the company has signed an Options Subscription Agreement with Nusantara [NRL]," Indrawan said, as quoted by Bisnis Indonesia on Friday (20/3) today. (KR/AR)