PT Bukit Asam's net profit in the first quarter rose to IDR867.35 billion from IDR760.33 billion a year earlier, the coal miner said Thursday.
The state-controlled company said the rise in net profit was due to the 26% on-year increase in coal sales volume to 3.86 million metric tons, and a 4% increase in coal prices to IDR781,142 per ton.
As a result, revenue rose 31% on year to IDR3 trillion, it said.
"The company is optimistic it can reach its sales target of 18.67 million tons for 2012," Corporate Secretary Hananta Budi Laksono said in a press release.
Source: Market Watch