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Sunday, October 24, 2010

Benakat still booked increasing net loss despite revenue soared

BI / exchange
21/10/2010
Irvin Avriano A.

Benakat still booked increasing net loss despite revenue soared

JAKARTA: PT Benakat Petroleum Energy Tbk net loss still increased 57.47% in 3rdQ/2010 compared to the same period last year despite rocketing corporate's income amounted to 1396.72%.

In the financial statements published in the disclosure of information the Indonesia Stock Exchange in Thursday, the company recorded a net loss increased from IDR61.16 billion to IDR96.32 billion. On the other hand, its revenue increased from IDR11.91 billion to IDR178.76 billion.

The majority factor that increase the net loss are cost of sales which also rose in large numbers, 365.24% from IDR28.74 billion to IDR133. 74 billion.

Increased cost of sales was due to increasing direct production process cost by 189.59% from IDR26.5 billion to IDR76.75 billion, and several other production processes that begin to enter the calculation of production process.

That process are intangible drilling cost amounting to IDR43.04 billion, equipment and material systems IDR5.25 billion, salaries and employee benefits IDR6.81 billion, and the review of data acquisition of IDR1.24 billion.

Although the cost of goods sold is still increasing, the other cost of sales successfully recorded a decrease of 72.34% from IDR2.23 billion to only IDR618.24 million.

In addition, the company operating expenses and other expenses also increased respectively by 204.57% and 229.25%.

Operating expenses rose from IDR23.61 billion to IDR71.92 billion and other expenses increased from IDR24.27 billion to IDR79.92 billion for the same period.

The corporate's stock price that coded BIPI is not affected by the financial reports and still gained 1.82% to IDR112 at the trading closing in Thursday and formed its market capitalization to IDR3.36 trillion.

As of September 2010, the shareholders of the company that commandeered by Arifin Wiguna are PT Perkasa Indotambang of 55.57%, PT Inti Permata Nusantara of 6.2%, and the public of 38.23%.

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