JAKARTA - The profit of PT Indika Energy Tbk (INDY) skyrocketed 706,7% to USD 510.77 million in 2022 from USD 63.31 million in 2021. The profit surge was induced by increased coal sales. 

In the 2022 Financial Report quoted Thursday (13/4), M. Arshad Rasjid, President Director of INDY, revealed that the revenue also shifted 41.21% year-on-year (yoy) from USD 3.06 billion in 2021 to USD 4.33 billion in 2022.

The revenue from coal export in 2022 reached USD 3.34 billion, moving up from USD 2.08 billion in 2021. In contrast, domestic sales declined from USD 606.62 million to USD 511.65 million. Then, the revenue from contract and services in 2022 increased from USD 261.69 million in 2021 to USD 358.17 million, followed by other export trades that declined from USD 62.96 million to USD 53.26 million, while other domestic trades shifted from USD 56.18 million to USD 65.51 million.

The gross profit of INDY in 2022 also soared from USD 918.12 million in 2021 to USD 1.45 billion, as did its profit before taxes from USD 502.10 million to USD 1.01 billion. Lastly, the net profit from carry-over operations nearly doubled from USD 207.41 million in 2021 to USD 510.77 million in 2022. (LK/ZH)