JAKARTA: PT Indika Energy Infrastructure and PT LPG Distribusi Indonesia, subsidiaries of PT Indika Energy Tbk, established a new company namely PT Jatiwarna Gas Utama, mainly focusing on trading, industry and services on June 30.In disclosure information to Indonesia Stock Exchange, the company said LPG Distribusi holds 99.60% ownership in Jatiwarna Gas, whilst Indika Energy Infrastructure owns 0.40%.Indika, parent company of PT Petrosea Tbk and PT Mitrabahtera Segara Sejati that is controlled by Indonesian tycoon Agus Lasmono, son of late businessman Sudwikatmono, posted Rp265.16 billion net profit in 1Q 2011 or Rp51 per share from Rp291.74 billion in 1Q 2010 or Rp56 per share.Indika Energy's gross profit dropped 26.75% to Rp126.92 billion from Rp173.26 billion. The company booked a slight increase in revenue of 2.71% to Rp768.68 billion from Rp748.42 billion.The largest contributors for Indika consolidated revenue were PT Gunung Bayan Pratama Coal with Rp155.31 billion revenue, PT Adimitra Baratama Nusantara with Rp101.18 billion, PT Santan Batubara with Rp99.25 billion, and JOB Pertamina Talisman Jambi Merang with Rp15.86 billion.The INDY-coded stock declined 0.68% or IDR25 to IDR3,675 on 11.40 a.m. local time at the Jakarta Stock Exchange. (msw)

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