Bumi Resources' Net Profit Soars 8,773 Percent in First Half of 2022

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Reza Pahlevi 02/09/2022 15:50 WIB

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Coal miner Bumi Resources recorded a net profit of US$167.7 million in the first half of 2022.

Bumi Resources' Revenue and Net Profit (First Half 2022)

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Bumi Resources' Net Profit Soars 8,773 Percent in First Half of 2022

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Bumi Resources' Revenue and Net Profit (First Half 2022)

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Coal issuer PT Bumi Resources Tbk benefited from high coal prices throughout the first half of 2022.

The company's revenue, with the stock code BUMI, surged 130% year-on-year (yoy) to US$969 million in the first half of 2022. BUMI recorded US$422 million in the same period last year.

Revenue from coal mining contributed the most, at US$963.15 million. Meanwhile, revenue from gold amounted to US$4.9 million.

This surge in revenue resulted in BUMI's net profit skyrocketing 8,773% (yoy) to US$167.7 million in the first half of 2022. BUMI's net profit was only US$1.89 million in the same period last year.

The company's assets were recorded at US$4.46 billion as of June 30, 2022. Liabilities were recorded at US$3.57 billion, and equity at US$887.6 million.

Editor : Annissa Mutia

"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."