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PLN profit soars 162% to Rp17.4tn in first half

Tempo - July 29, 2022

Muhammad Hendartyo, Jakarta – Indonesia's state-owned power company PLN booked a net of Rp17.4 trillion in the first semester of 2022. The figure reflects a 162.4-percent increase from Rp6.6 trillion in the same period last year.

The profit growth was supported by the increase in electricity sales as the national economy improved, as well as the company's transformation and efficiency measures.

"We are very grateful that amidst global economic uncertainty, PLN has managed to score the best performance," PLN president director Darmawan Prasodjo said in a written statement Thursday evening, July 28.

PLN recorded an electricity sales volume of 133.87 Terawatt hour (TWh) in the first semester, an increase from 2021's first half's sales of 125.49 TWh.

Darmawan said the sales increase was supported by the significant growth of sales to industrial customers, with an increase of 14.3 percent until the end of June.

"The significant electricity sales increase in the industry segment indicates an economy that has started to recover from the pandemic," he said.

From that sales, PLN booked Rp150.6 trillion, an increase of 7.2 percent. The company currently has 83.9 million customers.

Source: https://en.tempo.co/read/1617056/pln-profit-soars-162-to-rp17-4tn-in-first-hal