Baramulti Group coal issuer, PT Mitrabara Adiperdana Tbk. (MBAP) posted a net profit of US$164.36 million during the first 9 months of 2022. This figure represents a growth of 237.5 percent, when compared to the report card of US$ 48,858 million in the same period the previous year (year-on-year / yoy).

Based on the third quarter of 2022 financial report uploaded on the Indonesia Stock Exchange (IDX) page, revenue from contracts with customers increased by 84.8 percent to USD366.06 million.

This figure was supported by an increase in sales to related parties, Brooklyn Enterprise Pte Ltd by 264 percent to US$142.5 million. Similarly, sales to third parties, KCH Energy Co Ltd, increased 137 percent to US$126.37 million.

This result boosted basic earnings per share to a level of USD0.132 per share, greater than the gain in the current year as of the end of September 2021 which was only US$ 0.04 per share.

MBAP's cost of goods swelled 28.4 percent to US$131.53 million followed by gross profit which also jumped 143 percent to US$243.5 million.

The company's liabilities were recorded to increase by 62.3 percent compared to the end of 2021 to US$ 93,739 million. In detail, short-term liabilities amounted to US$89.42 million and long-term liabilities amounted to US$4,317 million.

The change in the Company's total liabilities amounted to 62 percent of the audited consolidated financial position as of September 30, 2022 due to an increase in operating debt of US$ 6,472,276.

Mainly, due to the increase in production costs, as well as an increase in tax debt of US$6,459,656 in line with the increase in profit before tax for the current year.

"The increase in liabilities was also caused by dividend debt of US$ 42,324,445, which was paid in full on October 3, 2022," MBAP management wrote.

Meanwhile, in the third quarter of 2022, equity was recorded to increase by 17.08 percent to US$ 233.26 million. In total, assets rose 27.2 percent to US$327 million.

Image source: PT Mitrabara Adiperdana Tbk

Source: https://market.bisnis.com/read/20221030/192/1592946/laba-emiten-batu-bara-mbap-meroket-2375-persen-di-kuartal-iii