Indo Tambangraya's Net Profit Increases by 292% in the First Half of 2022

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Reza Pahlevi 20/08/2022 08:30 WIB

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Indo Tambangraya Megah recorded US$1.42 billion in revenue and US$460.8 million in net profit in the first half of 2022.

Indo Tambangraya Megah's Revenue and Net Profit for Semester I (2021-2022)

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Indo Tambangraya's Net Profit Increases by 292% in the First Half of 2022

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Indo Tambangraya Megah's Revenue and Net Profit for Semester I (2021-2022)

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Coal issuer PT Indo Tambangraya Megah Tbk (ITMG) recorded increased sales in the first half of 2022. This sales increase also resulted in a nearly fourfold increase in profit.

The company recorded sales of US$1.42 billion in the first six months of 2022. Sales surged 110% year-on-year (yoy) from US$676.3 million in the first half of 2021.

The company's sales volume actually decreased by 11% (yoy) from 9 million tons to 8.1 million tons. However, its average selling price increased by 134% from US$74.7 per ton to US$175.1 per ton.

ITMG not only increased sales but also managed to reduce costs. The gross profit margin increased to 53% from 34%.

Finally, the company's net profit for the first half of 2022 was recorded at US$460.8 million. This figure increased by 290% (yoy) from US$117.6 million in the same period last year.

Editor : Adi Ahdiat

"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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Indo Tambangraya's Net Profit Increases by 292% in the First Half of 2022

Indo Tambangraya's Net Profit Increases by 292% in the First Half of 2022

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Indo Tambangraya's Net Profit Increases by 292% in the First Half of 2022

Indo Tambangraya's Net Profit Increases by 292% in the First Half of 2022

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