April 25 (Bloomberg) -- PT International Nickel Indonesia,
the country's largest producer of the metal, said first-quarter
profit fell 39 percent because of lower prices.
Net income dropped to $139.6 million in the three months to
March 31, from $227.8 million a year ago, the Jakarta-based
company said in a statement to the Jakarta Stock Exchange. Sales
fell 15 percent to $380 million, it said.
PT Inco produced 20,136 metric tons of nickel in the three
months compared with 17,980 tons. The company aims to produce as
much as 79,000 tons of nickel this year, President Director Arif
Siregar said in a statement posted on the company's Web site.
The company fetched an average price of $21,187 a ton in the
first quarter of the year compared with $29,149 a ton a year
earlier, it said.