ITMG – Net profit declined 54.6% yoy in 9M23

ITMG – Net profit declined 54.6% yoy in 9M23 Indo Tambangraya Megah (ITMG) posted a decrease in revenue of USD 1.83 bn (-30.18% yoy) and net profit of USD 405.83 mn (-54.60% yoy) in 9M23. ITMG's revenue consisted of coal sales segment in third parties worth USD174 bn, coal sales segment in related parties worth USD81.21 mn and third-party services segment worth USD3.78 mn. ITMG's performance was pressured by higher COGS (+0.57% yoy) at USD1.22 bn. While, general and administrative expenses was up by 11.65% yoy at USD26.91 mn. (Source: Kontan)