Indo Tambangraya 2010 net profit plunges 39 pct

PT Indo Tambangraya Megah , Indonesia's no.3 coal miner, said on Wednesday that its 2010 net profit down more than 39 percent on higher finance costs and loss on derivative transactions.

The firm, a unit of Thai's Banpu , posted a $204.15 million net profit in 2010, versus $335.55 million a year earlier. The company's net revenue climbed 10 percent to $1.67 billion.

It missed a consensus of 15 analysts surveyed by Thomson Reuters I/B/E/S to post a full-year 2010 net profit of $284.8 million. Source: Reuters