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Indonesian PT Bukit Asam posts 14% profit rise for Q1

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PT Bukit Asam, the state-controlled coal miner in Indonesia posted a 14% profit rise for the Q1, 2012.

According to the data released by Bukit Asam, its net income in the first three month this year hit to INR867.3 billion, compared to INR760.3 billion in the same period of a year earlier.

Meanwhile, its revenue increased from INR 2.3 trillion in the first quarter 2011 to INR3 trillion in the mentioned period this year accordingly. The company’s administrative and general cost also climbed up to INR226 billion from INR174.6 billion in Q1 last year.

Obviously, the increasing coal capacity and prices helped Indonesian coal miners have a better performance early this year.

Milawarma, the director of Bukit Asam forecasted that the company’s revenue may reach to INR14 trillion if the coal sales rise to 18.6 million tons this year.

Moreover, Bukit Asam is looking for opportunities to cooperate with other enterprises to achieve its outstanding performance, and it has already started to work with Kereta Api Indonesia the state railway operator.
News Date 27 Apr 2012 11:56:31 reported by Ivy Wei

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