Shares in PT Bumi Resources, Asia's biggest coal exporter, fell as much as 4.84 percent on Thu
rsday after the company reported a nine-month net loss on Wednesday.
Bumi reported a net loss of $632 million in the nine months to September, as operating revenue fell 60 percent to $312 million and booked derivatives transaction loss of $422.04 million.
'If we disregard the materially large loss on derivative transactions, adjusted 9M loss of $210.4 million is worse than our expectation of a full-year loss of $166.7 million and consensus expectation of a full-year profit of $24.6 million,' UBS mining analyst Andreas Bokkenheuser said in a note on Thursday.
Shares of the coal miner were down 3.23 percent at 600 rupiah. The Jakarta mining index was down 0.05 percent while broader index was up 1.17 percent.
1230 (0530 GMT)
(Reporting by Andjarsari Paramaditha; Editing by Sunil Nair) Keywords: MARKETS INDONESIA STOCKSNEWS/BUMIRESOURCES
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