DIGIVESTASI - PT Harum Energy Tbk (IDX: HRUM) recorded a net profit of USD 107.27 million in the 9 months of 2023, down 54.8% compared to the same period in 2022 which reached USD 237.43 million. 

As a result, basic earnings per share fell to $0.00806 per share as of September 30, 2023, whereas at the end of September 2022 it stood at $0.01844 per share. This was due to an 8.5% year-on-year decline in revenue to $624.44 million at the end of the third quarter of 2023. 

Specifically, coal export value decreased by 13.2% to $536.78 million. Similarly, equipment rental and transportation revenue in the Western region decreased by 34.8% to USD6,421 million. However, coal sales in the local market increased by 35.6% to $99.234 million.  

Unfortunately, cost of revenue increased by 29.4% year-on-year and reached $343.007 million by the end of September 2023. As a result, gross profit decreased by 31%, remaining at USD 299.43 million. 

The data is presented in HRUM's 9-Month 2023 Limited Liability Financial Report uploaded on the Indonesia Stock Exchange (IDX) website, Wednesday (November 29, 2023). 

At the same time, total liabilities increased 21.3% from the end of 2022 to $347.36 million at the end of September 2023. On the other hand, total equity increased 13.7% compared to the end of 2022 to reach $1.128 billion at the end of the third quarter of 2023.