PT Indo Tambangraya Megah Tbk, a subsidiary of Thailand Banpu Plc, posted a 17.6 percent gain in second- quarter net income after sales increased.
Net income in the three months ended June 30 rose to $66.96 million from $56.94 million in the year ago period. Sales climbed $414.2 million from $328.9 million.
Coal producers benefited from strong overseas and domestic demand, increasing the company revenue. Indo Tambangraya, recorded a 15.5 percent decline in first-half net income to $134.1 million from a year earlier, the company said in a filing to Indonesia Stock Exchange because of higher cost.
Revenue in the six-months ended June 30 rose to US$821.7 million from US$675.9 million, the company said in a filing to stock exchange. Cost of goods sold gained to US$537.9 million from US$406 million.
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