PTBA Books Net Profit Of IDR 1.2 Trillion In The First Quarter Of 2023

PTBA's positive performance in the first quarter of 2023. (Doc. PTBA)

JAKARTA - PT Bukit Asam Tbk (PTBA) managed to record a net profit of IDR 1.2 trillion in the first quarter of 2023 and recorded revenue of IDR 10.0 trillion.

Meanwhile, the company's total assets as of March 31, 2023 amounted to IDR 46.4 trillion.

PTBA President Director Arsal Ismail said the achievement of net profit was supported by an increase in the Company's operational performance during the first quarter of 2023.

"PTBA's total coal production in the first quarter of 2023 reached 6.8 million tons or grew 7 percent compared to the same period in 2022, which was 6.3 million tons," said Arsal to the media quoted on Saturday, April 29.

He added that the increase in production was in line with the increase in coal sales volume by 26 percent to 8.8 million tons.

In the first quarter of 2023, the Company recorded PTBA's export sales of 3.6 million tons, an increase of 59 percent compared to the same period the previous year.

Meanwhile, the realization of the Domestic Market Obligation (DMO) was recorded at 5.2 million tons or grew 10 percent on an annual basis.

Various things that are a challenge for the Company this year, including corrections to coal prices, market fluctuations, to geopolitical conditions.

Sales Costs have increased, including the cost of mining services, fuel, royalties, rail transportation.

"Therefore, PTBA continues to strive to maximize market potential in the country as well as export opportunities to maintain positive performance," concluded Arsal.