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Indonesian coal producer Banpu's Q3 profit falls QOQ amid forex loss

Indonesian coal producer Banpu PCL reported a net profit of US$76 million for the third quarter, a 39% drop compared to the second quarter due to a US$25 million foreign exchange loss.

The company had booked a US$36.8 million foreign exchange gain in the second quarter.

EBITDA for the quarter was US$310 million, rising 7% quarter over quarter, with coal accounting for US$243 million, according to a Nov. 9 release. Sales revenue grew to US$964.6 million, from US$813.4 million in the second quarter.

Coal sales rose to 10 million tonnes, from 9.2 Mt in the second quarter; sales in Indonesia rose 25% to 6.7 Mt, and sales in Australia fell 12% to 3.3 Mt.