Bumi Resources? net profit jumps 59.1%

By Romel S. Gurky

Courtesy of Bumi Resources

IDX-listed coal giant PT Bumi Resources Tbk saw its net profit jumped by 59.1 percent in the first quarter of this year to US$88.04 million from $22.47 million in the corresponding quarter of last year, thanks to recovery in the price of the commodity.

The company said late last week that revenue increased by 59.13 percent to $10.30 million in the January-March period of this year from $6.47 million in the same period of last year.

Operating expenses, however, increased to $14.80 million from $5.63 million, causing the company to suffer operating loss of $4.5 million in the first quarter of this year, compared to operating profit of $841,000 in the same quarter of last year.

Meanwhile, the company?s other income increased to $90.71 million in the first quarter of this year from $34.64 million.

Editing by Reiner Simanjuntak