Indonesia's Bumi Q2 profit falls, sees better H2

* H1 net profit at $134.6 mln, down 30 percent

* H1 revenue $2.14 bln, up 25 percent

* Q2 net profit $37.8 mln, down 44 pct - Reuters calculation (Updates with quotes, background)

Second-quarter net profit for PT Bumi Resources (BUMI), Indonesia's biggest coal miner by volume, fell 44% on derivatives losses and higher interest charges, Reuters calculations showed on Tuesday.

The company, which is controlled by the family of politician Aburizal Bakrie, said the outlook for the second half was better than in the first because it expects higher coal prices.

"Second-half price will be higher than first-half for Bumi," Dileep Srivastava, a Bumi director told Reuters.

Srivastava said Bumi is sticking to its forecast to produce at least 67 million tonnes this year, with sales of 64 million tonnes, despite the impact of unseasonally heavy rains which have affected some mining companies and crops.

Bumi, which has a stock market value of $3.65 billion, reported a net profit of $134 million in the first six months. That compared with a net profit of $192.30 million in the year-ago period.

Second-quarter net profit fell to $37.8 million, from $67.8 million a year ago, according to Reuters calculations based on published first-quarter figures.

The result was hit by expected higher interest charges and tax, as well as a "notional loss on derivatives" positions which were marked to market, Srivastava said. The additional interest charges were related to Bumi's acquisition of a 24 percent stake in the Indonesian unit of US-based Newmont Corp (NEM.N).

The company reported a $60 million loss in derivatives transactions and $257 million in interest costs in the first half.

Bumi, which aims to expand in Africa by buying new non-coal mining assets, said that it will retain a 75 percent stake in its non-coal assets unit which it plans to list in an initial public offering this year.

Analysts forecast full-year net profit of $366.02 million, according to the consensus in Thomson Reuters I/B/E/S.

Revenues rose 25 percent to $2.14 billion from $1.71 billion a year ago. The firm produced 30.2 million tonnes of coal in the first half, up 13 percent from a year ago.

Bumi shares plunged 22 percent in the first half, underperforming the broader market .JKSE, which was up 16 percent in the same period.

Bumi's shares closed up 1.2 percent at 1,710 rupiah on Monday before the company released its results, while the overall market was down 0.17 percent. Source: Reuters