PT Bumi Resources Tbk (BUMI), as of the first quarter of 2021, posted a loss for the current period attributable to owners of the parent company of US$11.67 million, down 66.72% from the same period last year of US$35.09 million.

The decrease in loss was supported by the company's ability to reduce the cost of revenue by around 12 percent to US$838.4 million from US$949.2 million.

However, operating revenues fell about 3% to US$1.03 billion from US$1.07 billion. The average selling price increased 8% from US$49 per ton to US$53.1 per ton.

"This increase is in line with the recovery in global coal prices and the current bullish trend triggered by supply uncertainty and has brought coal prices to their highest level in 10 years," said BUMI Director Dileep Srivastava in a press release on  Thursday (1/7).

According to Dileep, the company hopes that the improvement in the coal sector and rising coal prices that will continue in