Jakarta - PT Adaro Energy Indonesia Tbk (ADRO) achieved a surge in profit for the period attributable to owners for the January-September 2022 period of around 353.09% to US$1.903 billion, from the same period last year of only US$420 million.

The company's financial report released on Tuesday (11/1) showed that solid profits were supported by the high operating income of around 130.16%, to US$5.913 billion from US$2.569 billion.

However, the cost of revenue jumped by about 59.44% to US$2.548 billion from US$1.598 billion.

Operating expenses swelled by about 77.59% to US$231.821 million from US$130.532 million.

However, Adaro managed to generate a net other income of around US$18.385 million, compared to its cost of US$75.265 million.

As a result, operating profit rose by around 312.30% to US$3.151 billion from US$764 million.

Adaro's total assets reached US$10.031 billion, with US$3.743 billion in liabilities and US$6.288 billion in equity. Meanwhile, the cash and cash equivalent position at the end of the period was US$3.352 billion.