JAKARTA – PT Trimegah Bangun Persada Tbk (NCKL), commonly known as Harita Nickel, recorded a 17.8% year-on-year (yoy) revenue increase, reaching Rp20.4 trillion as of September 2024.

This rise is seemingly attributed to the addition of a production line at NCKL's High-Pressure Acid Leach (HPAL) facility in August 2024. In fact, the nickel processing line saw a nearly 20% yoy jump, contributing Rp17.7 trillion to revenue, whereas the nickel mining segment only managed to bring in Rp2.7 trillion.

This revenue surge pushed Harita Nickel’s gross profit up by 8.6% yoy to Rp6.6 trillion as of September 2024, with net profit for the period increasing by 6% yoy to Rp6 trillion.

Despite this strong financial performance throughout the year, NCKL’s stock remains sluggish, even showing signs of weakness. Since the beginning of the year, its stock has dropped 18.23%, reaching Rp835 per share at 11.35 AM WIB in the morning session of the Indonesia Stock Exchange today (22/11). (ZH)