JAKARTA (TheInsiderStories) - State owned utility company PT Perusahaan Listrik Nengara (PLN) reported net profit of Rp7.9 trillion in the six month to June this year, compared to net loss of Rp10,5 trillion in the same period last year, thanks to efficiency measures that have been undertaken by the company.
The company’s EBITDA for the six month period stood at Rp30.2 trillion, up by Rp3.3 trillion compared to the same period last year which amounted Rp26.9 trillion. This reflects an improvement of PLN performance in efficiency and improvement of internal financing capabilities of the company.
The revenues of for six months rose 3.15 percent to be Rp104.7 trillion over the same period last year of Rp101.5 trillion. This revenue growth came from increased sales volume amounted to 107.2 kWh Terra Watt hour (TWh), an increase of 7.85 percent compared to the same period last year amounted to 99.4 TWh.
It said the kWh consumption increase is in line with the increase in the number of customers served by the company until the end of June 2016, which had reached 62.6 million subscribers, or an additional 1.4 million customers from the end of 2015, namely 61.2 million subscribers. The increasing number of customers have also boosted the national electrification ratio from 88.3 percent in December 2015 to 89.5 percent in June 2016.
Along with the increase in electric power production, operating expenses rose Rp1.9 trillion, or up 1.66 percent, to Rp119.7 trillion over the same period last year amounting to Rp117.8 trillion. (*)