PT Atlas Resources Tbk (ARII), a coal mining company, recorded impressive performance in Q3 2022 compared to the same period last year.

The company is reported to secure revenue and profit growth of 136.90% and 2,876% (year-on-year/yoy), respectively.

Andre Abdi, President Director of Atlas Resources, revealed that its revenue in Q3 2022 clocked up to USD 163 million, multiplying from USD 29.20 million seen in the third quarter last year.

The coal sales contributed USD 143.26 million, increasing 457.41% yoy from USD 25.70 million, while the rental services generated USD 19.73 million, also shifting 463.48% yoy higher from mere USD 3.5 million.

Its gross and current year’s net profit as of September 2022 reportedly clocked up to USD 34.49 million and USD 31.60 million, in that order.

For comparison, in Q3 2021, its gross and current year’s profit only reached USD 1.01 million and USD 1.05 million.

Image source: ARII

Source: https://www.idnfinancials.com/news/45207/arii-scored-profit-surge-q