JAKARTA: Performance of three state-controlled miners in QI/2012 narrow, mirrors by decline in average net margin up to 19% and a stagnant average net profit. The slowdown was amid higher operating expenses than revenue growth.
Based on Bisnis data, average net margin of PT Aneka Tambang Tbk, PT Bukit Asam Tbk and PT Timah Tbk eroded by 19% to 17.88% from 22.01%. Total net profit in QI/2012 decreased 0.5% to IDR1.45 trillion from IDR1.46 trillion on the same period last year.
Total revenue rose 16.83% to IDR7.66 trillion from IDR6.56 trillion however cost of revenues surged 23.84% to IDR3.32 trillion from IDR2.68 trillion. thus, total gross profit fell 3.02% to IDR2.44 trillion from IDR2.51 trillion.
Operating expenses rose 24.48% to IDR774.21 billion from IDR621.96 billion. Operating profit of the three companies decreased 12.07% to IDR1.66 trillion from IDR1.89 trillion. (T05/aph)