PTBA reports 27% rise in net profit
Thursday, October 30 2014 - 05:09 AM WIB
The company said in a statement that operating income in the January-September period of this year rose by 19 percent to Rp 9.65 trillion year-on-year.
It claims that PTBA is one of the coal companies in Indonesia with the highest margins, pointing out that gross profit margin during the nine-month period of this year reached 32 percent, while operating profit margin and net profit margin, respectively stood at 19 and 16 percent.
The solid financial performance was mainly attributed to higher selling price enjoyed by PTBA, which average selling price during the period to rise by 19 percent to Rp 728,079 per ton, the statement said. Average selling price for export was US$71.11 per ton, while for the domestic market was Rp 671,426 per ton.
Meanwhile, PTBA said that coal production volume in the January-September 2014 period increased by 13 percent to 12.48 million tons from production in the corresponding period of last year at 11.04 million tons.
The company said that own production and coal purchase from third parties totaled 13.88 million tons during the nine-month period, up 5 percent compared to the same period of last year.
Editing by Reiner Simanjuntak