JAKARTA. PT Bukit Asam Tbk (PTBA) booked revenue of USD 19.64 million throughout the first half (H1) of 2024, increasing 4.14% year-on-year (yoy) from the same period last year.

Based on the recently issued financial report, coal sales remain the primary component of PTBA’s total revenue in H1 2024, generating USD 19.39 million. The small remaining amount, worth USD 254.15 thousand, came from other business activities.

Unfortunately, PTBA’s revenue growth entailed an increase in its cost of revenue, which reached USD 16.24 million in H1 2024. Cost of revenue swelled 10% yoy from USD 14.76 million seen in H1 2023.

Therefore, PTBA’s net profit in H1 2024 was stuck at USD 2.03 million, or 26.9% yoy lower than the net profit recorded in H1 2023.

It is worth mentioning that PTBA is a company listed as a constituent of Indeks Tempo-IDNFinancials 52 (Indeks52). In this index, the company was listed as a constituent of all four categories: Main Index, High Dividend, High Growth, and Big Market Cap.

The selection of constituent and categorisation of Indeks52 was carried out according to the annual evaluation held by a committee represented by, among others, Tempo Media and IDNFinancials. Several criteria of this index include average growth rate, dividend allocation, and market cap size within the past 5 years. (KR/ZH)