Coal mining contractor PT Delta Dunia Makmur Tbk (DOID), parent of PT Bukit Makmur Mandiri Utama (BUMA), was still in red for the first 3 months of 2012. It booked a Rp95.91 billion net loss as a result of a 13.56% increase in interest expenses.
In the first quarter of last year, Delta Dunia was in net profit of Rp164.88 billion. During the first 3 months of 2012, the company paid Rp117.45 billion interest compared to Rp103.43 billion a year ago.
Operating profit declined 35.68% to Rp113.04 billion from Rp175.74 billion on the back of COGS increase was higher than net revenue's growth.
Gross profit fell 28.57% to Rp199.17 billion from Rp278.85 billion, while COGS rose 21.26% to Rp1.54 trillion from Rp1.27 trillion.
Delta Dunia, that is controlled by Northstar Pacific, Texas Pacific Group, GSIC, and CIC, booked a 12.26% increase in net revenue to Rp1.74 trillion from Rp1.55 trillion.
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