Jakarta - PT Adaro Energy Indonesia Tbk (ADRO) recorded a surge in profit for the period attributable to owners by 617.15% to US$1.121 billion compared to the same period last year of only US$169 million.

"The very high profit will help us provide financial support for the Adaro Group's transformation in the years as we invest heavily in renewable energy. Adaro Groups also develops the world's largest green industrial estate and diversifies further away from thermal coal," said Garibaldi Thohir, President Director and Chief Executive Officer of Adaro Energy, in a press release on Tuesday (8/30).

The profit gain was driven by Adaro's high operating income of around 127%, to US$3.541 billion from US$1.563 million, mainly driven by a 117% increase in the average selling price (US).

"The first half of 2022 was a very favorable semester for prices," he added, "pushing earnings to record highs in the company's history.