PT Bukit Asam Tbk (PTBA) recorded a profit for the period attributable to the parent company owners in the first quarter of 2021, amounting to Rp500.52 billion, down 44.58% compared to the same period last year, reaching Rp903.25 billion.

A decrease in operating income of around 22.07%  to Rp3.99 trillion from Rp5.12 trillion led to a lower profit.

"As part of PTBA's anticipatory steps in the midst of the Covid-19 pandemic, PTBA continues to make efficiency measures. This is reflected in the general and administrative expenses which fell 19% or realized by Rp 339.33 billion compared to the first quarter of 2020, "said PTBA's press release on Friday (30/4).

The efficiency measures taken do not prevent the company from continuing to grow. The company's total assets increased by 2% in just three months, from Rp24.1 trillion in 2020 to Rp24.5 trillion at the end of the first quarter of 2021.

The increase in assets was in