JAKARTA. High coal price has driven the net profit of PT Bukit Asam Tbk (PTBA) 109.75% higher in September 2022, now amounting to IDR 10 trillion.
In the financial statement of this state-owned coal mining company, the revenue in September 2022 was seen shifting 61.31% higher from IDR 19.38 trillion to IDR 31.07 trillion due to the increase in the coal price. This subsidiary of MIND ID recorded cost of revenue of IDR 17.19 trillion in September 2022, growing from IDR 11.12 trillion last year. However, it still triumphed with a massive surge in its gross profit from IDR 8.25 trillion in Q3 2021 to IDR 13.87 trillion in Q3 2022.
Ultimately, PTBA scored a current year’s profit attributable to the parent company of IDR 10 trillion at the end of September 2022, proliferating 109.75% from IDR 4.76 trillion in Q3 2021.
As the performance improve, PTBA also saw growth in its total assets from IDR 36.12 trillion to IDR 41.22 trillion. Similarly, its total liabilities also increased from IDR 11.87 trillion at the end of 2021 to IDR 14.78 trillion in Q3 2022. Lastly, its total equity also climbed from IDR 24.25 trillion in Q4 2021 to IDR 26.43 trillion in September 2022. (AM/ZH)