J Resources (PSAB) Turns Profit in Q1/2024, Gold Production Increases

Bisnis.com, JAKARTA - PT J Resources Asia Pasifik Tbk (PSAB), a gold issuer, posted an increase in financial and operational performance during the first quarter of 2024. Based on the published financial statements, PSAB recorded sales of US$ 62.83 million or equivalent to Rp 997.45 billion (jisdor exchange rate of Rp 15,873) during the first quarter of 2024. The sales increased 182.96% compared to the same period last year which was recorded at US$22.20 million. In line with the increase in revenue, PSAB's cost of goods sold also soared to US$39.09 million compared to the same period last year of US$8.41 million.

As a result, gross profit was printed at US$24.74 million or equivalent to Rp392.71 billion. The profit increased 0.79% compared to the same period last year which was recorded at US$13.79 million. Then net profit attributable to owners of the parent entity was recorded at US$ 2.23 million. Whereas previously PSAB posted a net loss of US$14.98 million.

Financial performance rose in line with the increase in production. During the first quarter of 2024, PSAB recorded a production of 33,272 troy ounces, an increase compared to the same period last year, which amounted to 15,497 troy ounces. PSAB President Director Edi Permadi said the good performance was also supported by an increase in the average gold selling price of 13% compared to the first quarter of 2023. “The production achievement in the first quarter of 2024 has reached 35.5% of the total production in 2023, where the total production in 2023 is 93,744 troy ounces,” he said in an official statement.

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This article was published on June 8, 2024 on Bisnis.com with the title “J Resources (PSAB) Turns Profit in Q1/2024, Gold Production Increases”, Click here: https://market.bisnis.com/read/20240608/192/1772380/j-resources-psab-berbalik-laba-kuartal-i2024-produksi-emas-meningkat.

Author: Artha Adventy - Bisnis.com