Banpu Plc, one of Asean's largest coal miners, posted a sharp drop in net profit for the third quarter on declining coal prices, a trend expected to continue until early next year.
Net profit for the quarter was 2.26 billion baht, down 46% year-on-year and 17% from the previous quarter.
Sales revenue fell 5% to 29.22 billion year-on-year due mainly to lower coal prices. Of total sales revenue, 94% or 27.75 billion baht was coal sales, representing a 6% decline year-on-year. The balance came from power, stream and other businesses.
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