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BUMI saw exponential profit growth in Q1 2022, up 380.5%

02 June 2022 08:41

JAKARTA – PT Bumi Resources Tbk (BUMI) recorded increases in its operational and financial performance in Q1 2022 compared to the same period last year. The revenue and profit each proliferated 32.6% and 380.5%.

In the information disclosure quoted Thursday (2/6), Dileep Srivastava, Corporate Secretary of Bumi Resources, mentioned that the company managed to lead its operational activities close to the normal rate amidst the current global condition due to the COVID-19 pandemic. “The revenue surge trend will continue this year. In Q1 2022, the revenue clocked up to USD 1.37 billion, rising from USD 1.03 billion from the same period last year,” he added.

BUMI’s operating profit multiplied 78.5% from USD 145.5 million to USD 259.7 million in Q1 2022. The profit before taxes also jumped 122.1% from USD 85.9 million to USD 190.8 million. Lastly, its net profit is exponentially amplified from USD 25.1 million to USD 120.6 million.

According to Srivastava, the coal price surge that goes on until Q2 2022 is expected to significantly drive the company’s performance forwards until the end of this year. “There are still, indeed, many global and domestic challenges that jeopardise the economy recovery,” he said. (LK/ZH)

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