According to Investor.Id, PT Vale Indonesia Tbk (INCO), part of Vale, a Brazilian multi-mining company mining nickel laterite, has posted a profit of USD 168.38-million as of September 30, 2022, a rise of almost 37-percent from the same period last year, which was USD 122.93-million.
The net profit was supported by revenues of USD 873.77-million or a 27.29-percent increase from USD 686.43-million in January-September 2021.
In its financial report for the third quarter of 2022, Vale posted cost of revenue of USD 614.69-million, up from USD 516.78-million.
Gross profit was recorded at USD 259.08-million and operating profit of USD 236.84-million in the January-September period this year.
INCO’s total assets as of September 30, 2022 were USD 2.65-billion, up from December 31, 2021, which amounted to USD 2.47 billion.
Liabilities as of September 30, 2022 rose to USD 332.57-million, from previously USD 318.36-million on December 31, 2021.
Meanwhile, total equity reached USD 2.32-billion as of September 30, 2022, an increase from USD 2.15-billion as of December 31, 2021.
“I am pleased to report a profitable third quarter of 2022 with no lost time injuries and no recorded injuries,” said INCO CEO and President Director Febriany Eddy.
He added that the average realized nickel price in 9M22 was 41-percent higher year-on-year , driving revenue 27-percent higher in 9M22, compared to 9M21. “However, due to volatility in the market, we remain cautious about nickel price fluctuations in the rest of the year,” he explained.