Indonesian coal miner Bumi Resources posts 45.5% jump in '24 net income

Indonesia's largest coal producer, PT Bumi Resources Tbk (BUMI), realized a net income of $170.9 million for 2024, marking a sharp increase of 45.5% from $117.4 million a year earlier, according to the company's full-year financial report issued on its website.

Total net income attributed to parent shareholders reached $67.5 million, soaring 517.8% compared with $10.9 million a year earlier. BUMI's 2024 net profit growth was more driven by its cost control rather than improvements in core business revenue, Mysteel Global noted. The company reported a 13% fall in gross revenue last