<![CDATA[This study examines the effect of coal prices and production costs on the profitability of PT Bukit Asam Tbk during 2015–2024. A quantitative approach was applied using quarterly time-series data, producing 40 observations obtained from the company’s financial statements, annual reports, and official publications. Data were analyzed using descriptive statistics, classical assumption tests, multiple linear regression, coefficient of determination, t-tests, and F-tests with IBM SPSS Statistics 23. The results show that coal prices do not have a significant partial effect on profitability, with a t-value of 1.430 and a significance level of 0.161. Production costs have a significant partial effect on profitability, with a t-value of 3.066 and a significance level of 0.004. Simultaneously, coal prices and production costs significantly affect profitability, as indicated by an F-value of 8.925 and a significance level of 0.001. The model explains 32.5% of profitability variation. These findings emphasize the importance of production cost management alongside adaptation to volatile coal prices in maintaining corporate profitability. Positive residual autocorrelation indicates that the regression estimates should be interpreted cautiously and complemented by financial and operational variables.]]>
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