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PT Bukit Asam Tbk (PTBA)'s financial report shows that the net profit attributable to the parent entity for the current period amounted to Rp790.94 billion in 2024.
This net profit decreased by 31.98% year-on-year (yoy) compared to the previous period, which was Rp1.16 trillion in Q1 2023.
The decline in profit is in line with the weakening revenue of the state-owned coal mining company. Recorded revenue in Q1 2024 was Rp9.4 trillion, down 5.49% (yoy) from Q1 2023, which was Rp9.95 trillion.
Total coal revenue reached Rp9.29 trillion in Q1 2024. This comprises revenue from related parties of Rp4.76 trillion and from third parties of Rp4.53 trillion.
This accumulated coal revenue decreased by 5.53% (yoy) from the previous period's Rp9.84 trillion.
Meanwhile, the cost of revenue reached Rp7.99 trillion in Q1 2024, up from Rp7.89 trillion in Q1 2023.
The cost of revenue in Q1 2024 includes mining services (Rp2.08 trillion); railway transportation services (Rp2.03 trillion); fuel and lubricants (Rp346.18 billion); depreciation (Rp305.95 billion); salaries and employee benefits (Rp234.366 billion); spare parts (Rp155.52 billion); heavy equipment and vehicle rental (Rp149.06 billion).
There were also third-party services (Rp145.82 billion); property tax (Rp67.36 billion); amortization (Rp20.56 billion); electricity (Rp11.19 billion); and other expenses (Rp149.93 billion).
PTBA also paid royalties to the government amounting to Rp884.8 billion.
Currently, PTBA's assets are recorded at Rp38.41 trillion in Q1 2024, down 0.89% (yoy) from the 2023 period, which was Rp38.76 trillion.
Liabilities reached Rp15.93 trillion and equity amounted to Rp22.48 trillion in Q1 2024.
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"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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