Jakarta - PT Adaro Energy Tbk (ADRO) as of January-September posted a profit for the period attributable to owners of US$420.90 million, an increase of 284.81% compared to the same period in the previous year of US$109.37 million.

Adaro President Director Giribaldi Thohir said the profit was supported by a 31% increase in operating revenues to US$2.56 billion from US$1.95 billion, thanks to a 42% increase in average selling price (ASP) due to high coal prices.

"Our focus on operational excellence and efficiency along the vertically integrated coal supply chain enables the achievement of solid performance. Even though we were faced with unfavorable weather conditions, we managed to provide reliable supplies to our customers, something that proves the strength of the business model implemented by the company," he said in a statement in Jakarta, Wednesday (1/12).

On the other hand, Adaro's cost of revenue increased 7% to US$1.59 billion mainl