JAKARTA - PT Bukit Asam Tbk (PTBA)'s profit shrank 61.67% in the third quarter of 2023, compared to the same period in 2022. This occurred in line with a decrease in revenue and an increase in the cost of revenue.

Arsal Ismail, President Director of PTBA said that revenue amounted to IDR 27.73 trillion in the third quarter of 2023, down 10.72% from revenue in the same period in 2022 of IDR 31.07 trillion. Gross profit fell 57.31% to IDR 5.92 trillion from IDR 13.87 trillion due to an increase in cost of goods to IDR 21.81 trillion from IDR 17.19 trillion.

This issuer's operating profit was recorded at IDR 4.30 trillion, down 64.34% from IDR 12.06 trillion. This decrease was followed by profit for the current period to IDR 3.90 trillion from IDR 10.17 trillion.

The majority of PTBA's income was contributed from coal sales amounting to IDR 27.33 trillion, consisting of sales to third parties IDR 13.96 trillion and to related parties IDR 13.36 trillion. Meanwhile, income from other activities was IDR 401.90 billion, which included IDR 370.91 billion to third parties and IDR 30.98 billion to related parties.

In the third quarter of 2022, this issuer's revenue rose 60.31% from revenue of IDR 19.38 trillion in the same period in 2021 and profits grew 52.32% from IDR 4.76 trillion in the same period in 2021. (LK/LM)