JAKARTA - PT Black Diamond Resources Tbk (COAL) reported increase in sales, but its profit took a hit following an increase in costs of sales.

Donny Janson Manua, President Director of COAL, mentioned that the company’s sales went 42.51% year-on-year (yoy) higher to IDR 523.14 billion in Q3 2023 from IDR 367.06 billion in Q3 2022. The gross profit, however, shrank to IDR 79.63 billion from IDR 124.01 billion, due to swollen costs of sales.

In the end, profit before taxes plummeted to IDR 53.05 billion from IDR 106.76 billion, resulting in net profit that dropped to IDR 43.01 billion from IDR 83.37 billion.

COAL’s users with over 10% contribution to total revenue are Dowes Trading Ltd of 83% and Royale Pacific Holding Ltd of 11%. In Q3 2022, users with over 10% revenue portion were Royal Pacific Holding Ltd of 51%, East Gate Commodities Pte Ltd of 35%, and PT Bloomindo Bumi Energi of 14%. (LK/ZH)