Coal miners reported a lower earnings in the first quarter (Q1) of 2024, inline with the correction in coal prices. Coal miner Adaro Energy (ADRO) booked profit attributable to owners of US$374.3 million in the first quarter (Q1) of 2024, declined 18.3% year on year (y/y), as revenue fell 22% y/y to US$1.44 billion. Operating income declined 18% y/y to US$514 million, with operating margin of 36%, up from 34% in Q1 of 2023.To subscribe please click here
