JAKARTA – The profit of PT Bukit Asam Tbk (PTBA) reportedly grew 59.02% to IDR 12.77 trillion in 2022 from IDR 8.03 trillion seen in the same period in 2021. This growth was supported by the revenue increase following coal price surge.

From the 2022 Financial Report quoted Monday (6/3), Arsal Ismail, President Director of PTBA, claimed that the company posted IDR 42.64 trillion of revenue, soaring 45.75% from IDR 29.26 trillion in 2021.

The income gained from coals sales to related parties clocked up to IDR 20.64 trillion, followed by coals sales to third parties of IDR 21.45 trillion, and income gained from other activities of IDR 549.27 billion.

Related parties that contributed over 10% revenue in 2022 were MIND ID Trading Pte Ltd of IDR 8.38 triliun and PT Perusahaan Listrik Negara (Persero) of IDR 7.70 triliun.

Its gross profit and operating profit both reached IDR 17.96 trillion and IDR 15.14 trillion. In 2021, the gross and operating profit were at IDR 13.84 trillion and IDR 9.95 trillion, respectively. Meanwhile, its profit before taxes was also seen increasing from IDR 10.35 trillion in 2021 to IDR 16.20 trillion in 2022. (LK/ZH)