PT Bukit Asam Tbk (PTBA) recorded a net profit of IDR 6.2 trillion in the first half of 2022, soaring as high as 246% compared to the number recorded in H1 2021.

PTBA’s recent profit surge in H1 2022 mirrored its revenue that grew 79% year-on-year (yoy) to IDR 18.4 trillion. For comparison, in H1 2021, PTBA collected revenue of IDR 10.29 trillion.

“This triumphant achievement was also supported by the company’s operational activities that have been solid throughout the first half. Highlighting cost leadership in every business line, we implemented the utmost sustainable efficiency,” Apollonius Andwie, Corporate Secretary of PTBA, explained in the official press release.

In H1 2022, PTBA’s coal production volume reached 15.9 million tons, 20% yoy higher. Meanwhile, its sales volume also climbed 13% yoy to 14.6 million tons.

For the record, PTBA had set the coal production volume target to 36.41 million tons by the end of this year. Therefore, the company had met 43.7% of said target until the end of the first half of 2022.

Source: https://www.idnfinancials.com/news/44110/bukit-asam-scored-idr-profit-coal-demands