Coal miner PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, reported a 37.17% increase in net profit for the first 3 months of this year.
Harum posted a Rp423.93 billion net profit in 1Q 2012 or Rp156.84 a share from Rp309.05 billion or Rp114.46 a share in 1Q 2011.
Operating profit rose 24.45% to Rp625.11 billion from Rp502.31 billion, sending its margin lowered to 23.38% from 33.17%. Harum booked a 38.71% increase in gross profit to Rp872.35 billion from Rp628.90 billion.
Revenue jumped 77.48% to Rp2.68 trillion from Rp1.51 trillion. Kiki Barki controls Harum Energy via PT Karunia Bara Perkasa and PT Bara Sejahtera Abadi that owns 70.24% and 0.093% respectively.
Disclosure: No position at the stock mentioned above.
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