Delta Dunia reports record profit on coal recovery

Petromindo|Boim

IDX-listed coal mining contractor PT Delta Dunia Makmur Tbk reported a record net profit of US$24 million in the first quarter of this year, a 700 percent jump compared to the corresponding period of last year, amid ongoing recovery in the coal mining sector, Bisnis Indonesia reported Friday.

The company said in a statement that the 2017 first quarter net profit is the highest net profit ever recorded by the company and its main subsidiary PT Bukit Makmur Mandiri Utama.

Delta Dunia said that said that net revenue in the first quarter of this year increased by 43 percent to $181 million from $127 million in the same quarter of last year. This was results of higher coal getting and overburden removal volume, and higher fees for its mining services due to recovery in the price of coal.

EBITDA also increased significantly to $70 million from $39 million with EBITDA margins of 40.3 percent, reflecting higher revenue and improvement in productivity and cost efficiency.

Editing by Reiner Simanjuntak