Jul 22, 2010

Mitra International loss soars 486%

PT Mitra International Resources Tbk (MIRA), parent company of drilling operator PT Apexindo Pratama Duta, posted Rp2.73 trillion of net loss in 2009, ballooning 486.45% from the previous year of Rp464.95 billion.
In 2009's financial report submitted to Indonesia Stock Exchange (IDX), the soaring loss was mainly contributed by interest and fine charges, foreign exchange loss, and bond interest.
Mitra International booked interest and fine charges of Rp998.65 billion, bond interest of Rp317.86 billion, and foreign exchange loss of Rp219.19 billion.
But, the company's revenue soared 127.73% from Rp1.19 trillion in 2008 to Rp2.71 trillion last year, while operating profit jumped 104.46% from Rp273.82 billion in 2008 to Rp559.85 billion.  

Disclosure: No position at the stock mentioned above.

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