The state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a period ended September this year as a result of higher sales and profitability.
In a financial statement published today, Bukit Asam booked Rp2.32 trillion earning in 3Q 2011 from Rp1.38 trillion in 3Q 2010.
Operating profit rose 75.46% to Rp2.86 trillion from Rp1.63 trillion, representing a rise in the company's margin to 36.90% from 27.63%.
Gross profit increased 50.76% to Rp3.98 trillion from Rp2.64 trillion. Bukit Asam came with a consolidated sales of Rp7.75 trillion from Rp5.90 trillion, showing a 31.36% growth.
Disclosure: No position at the stock mentioned above.
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