JAKARTA. PT Indo Tambangraya Megah Tbk (ITMG), a coal mining company acquired by Banpu Group, Thailand, in 2007, recorded net profit of USD 306.948 million in the first half of 2023.

ITMG’s net profit in H1 2023 was corrected 33.4% year-on-year (yoy). In H1 2022, the net profit was recorded at USD 460.83 million.

ITMG’s net profit is in line with the revenue in H1 2023 that slowed 8.6% yoy to USD 1.3 billion. In the first half last year, the company is able to rake in revenue of USD 1.42 billion.

On the other hand, ITMG’s cost of revenue in H1 2023 reportedly rose 25% yoy to USD 840.94 million. Its general and administrative expenses also swelled 30% yoy to USD 20.5 million in H1 2023.

As of June 2023, ITMG’s total assets were recorded at USD 2.23 million, while its total equity clocked up to USD 1.8 billion. (KR/ZH)