Resource Alam?s net profit up 13.63% on higher price
Friday, October 20 2017 - 01:22 AM WIB
IDX-listed coal mining company PT Resource Alam Indonesia Tbk said that net profit in the first nine months of this year increased by 13.63 percent to US$8.17 million from $7.19 million in the corresponding period of last year.
The company said in a statement on Thursday, however, that revenue in the January-September period of this year fell by 25.57 percent to $53.86 million from $72.45 million in the same period of last year.
Resource Alam did not provide much explanations, but said that its coal production during the first nine months period of this year totaled only 1.28 million tons against full-year target of 2 million tons. It did not provide comparative figure for production in the same period of last year.
The company said that production in the third quarter of this year reached 562,011 tons, while sales volume reached 391,484 tons. Again, it did not provide comparative figures.
Meanwhile, Resource Alam said that average selling price during the third quarter of this year was higher at $44.77 per ton compared to $33.40 per ton in the corresponding period of last year.
Resource Alam operates three mines in Simpang Pasir, Gunung Pinang, and Bayur in East Kalimantan from a total concession area of 24,477 hectares, according to company website.
Editing by Reiner Simanjuntak