PT Bayan Resources Tbk (BYAN), a coal mining company, collected a net profit of USD 970.76 million in the first half of 2022.

BYAN’s net profit recorded in H1 2022 was 188% higher than the numbers seen in the same period last year. In H1 2021, the company’s net profit was capped at USD 337.05 million.

BYAN’s net profit surge in H1 2022 was propelled by its revenue, which clocked up to USD 2 billion. It was approximately twofold of the revenue reported in H1 2021, which only reached USD 1.02 billion.

For more detail, BYAN’s revenue in H1 2022 was still dominated by the income generated from the coal mining segment. The coal business line generated USD 2 billion, while non-coal segments only turned in USD 3.63 million of revenue.

Until June 30, 2022, BYAN’s total assets reportedly reached USD 2.51 billion, while its total equity amounted to USD 1.82 billion. (KR/ZH)

Source:  https://www.idnfinancials.com/news/44290/bayan-resources-profit-soared-h