BYAN - PT. Bayan Resources Tbk

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JAKARTA - PT Adaro Energy Indonesia Tbk (ADRO) booked the highest net profit in Q1 2024 among four coal mining companies with the highest market capitalisation of over IDR 60 trillion as of May 28, 2024. ADRO surpasses PT Bayan Resources Tbk (BYAN), the issuer with the highest market cap in this particular industry.

Based on the data compiled by IDNFinancials today (29/5), ADRO recorded net profit attributable to the parent entity of USD 374.34 million, down 18.27% year-on-year (yoy) to USD 458.04 million in Q1 2023. The profit decline was in line with the revenue that slipped 21.54% yoy to USD 1.44 billion from USD 1.83 billion. ADRO’s market cap was reported at IDR 86.04 trillion.

BYAN, on the other hand, reported net profit attributable to the parent entity of USD 210.64 million, down 54.55% yoy from USD 463.10 million. The profit shrank as the revenue decreased 26.68% yoy to USD 769.12 million from USD 1.04 billion. BYAN’s market cap reportedly arrived at IDR 620 trillion.

PT Adaro Minerals Indonesia Tbk (ADMR) collected net profit attributable to the parent entity of USD 116.04 million, increasing 38.09% yoy from USD 84.70 million. This uptrend is triggered by 15.12% yoy revenue surge to USD 274.53 million from USD 238.24 million. The market cap of ADMR was seen at IDR 60.71 trillion.

Then, PT Petrindo Jaya Kreasi Tbk (CUAN) managed to rake in net profit of USD 30.17 million, up 400% yoy from USD 6.27 million. This sharp growth followed the upturn of revenue by 161.26% yoy to USD 86.33 million from USD 33.04 million. CUAN’s market cap arrived at IDR 87.68 trillion.

Lastly, PT Dian Swastatika Sentosa Tbk (DSSA), an issuer with market cap of IDR 152.33 trillion, has yet to publish its Q1 2024 by the date the article is published. (LK/ZH)