JAKARTA. PT Energi Mega Persada Tbk (ENRG), an oil and gas company belonging to the Bakrie Group, posted a net profit of US$45.7 million as of September (9M) 2023.

ENRG's net profit performance in 9M 2023 was recorded as growing 3.5% year-on-year (yoy) or compared to the same period last year.

In fact, from the sales side, ENRG reported a decline in sales performance of up to 13.8% yoy in 9M 2023 to US$296.4 million. In the same period last year, the company only recorded sales of US$344 million.

Based on the business segment, the majority of ENRG's sales came from the natural gas business line, with a contribution of US$213.07 million. Meanwhile, sales from the crude oil business line were recorded at US$99.69 million, and sales of other services at US$3.8 million.

According to a recently released report, ENRG's total assets were recorded at US$1.23 billion as of September 30, 2023, with cash and cash equivalents of US$38.6 million. Meanwhile, the company's total equity was recorded at US$559.85 million. (KR/LM)