* 9-Month capex increased to 1.21 trillion rupiah from 670 billion rupiah.

(The Insider Stories) State-controlled coal miner PT Bukit Asam Tbk (PTBA) announced on Wednesday its profit declined by 42.6% in the first nine month of this year from the same period last year due to lower income from sales and rising costs.
Profit in January-September fell to 1.2 trillion rupiah from 2.2 trillion rupiah from the corresponding period last year.  

The following are some highlights of today's announcement:
- Sales volume up 17% y/y to 13.24 million tons in Jan-Sept
- Coal exports up 36% to 7.02 million tons. The bulk of exports went to Taiwan (17%), India (14%), China (9%), Malaysia (8%), Japan (3%) and Vietnam (2%).
- Income from sales fell 6.85% to 8.12 trillion
- The company said in a filing to the IDX on Wednesday that the company "has made efforts to keep its financial report on check, amid the weaker coal price."
- It says the company delivers more coal using train. From Jan-Sept, PTBA transported 9.56 million tons of coal (up 7% y/y) using the train of Kereta Api Indonesia, the state train operator.
- It also used its own coal to power up a mine-mouth coal-fired plant, which has the capacity of generating 30 Megawatt of electricity.
- Despite of facing challenges, PTBA said its 9-month capex still increased to Rp 1.21 trillion from Rp 670 billion.