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LRT Jakarta logs Rp211 billion revenue in 2022

Tempo - February 1, 2023

Antara, Jakarta – LRT Jakarta president director Hendri Saputra on Tuesday said the company has seen revenues increase by 57 percent in 2022 compared to the previous year from passenger fares and non-fare boxes.

"Our revenue in 2022 amounted to Rp211 billion, which is a 57 percent increase year-on-year," said Hendri on January 31, Antaranews reported.

The total profit in 2022 logged by the Jakarta Propertindo (Jakpro) subsidiary was Rp 8 billion, which compared to the Rp3 billion from the Kelapa Gading – Velodrome route in 2021 is an increase of 128 percent. The company also claims to have logged a 99 percent in on-time performance.

With the increase in revenue, LRT Jakarta has IDR 100 billion in cash, an increase of 15 percent compared to 2021 of Rp 87 billion. This can be attributed to the rising number of daily average passengers where 2022 logged an average of 1,877, which is a significant increase compared to the previous year that logged below 1,000.

Hendri is aiming to serve an average of 3,000 daily passengers in 2023.

However, as a whole, LRT Jakarta's revenue comes from regional subsidies or Public Service Obligations (PSO) from the Jakarta provincial government.

Source: https://en.tempo.co/read/1686261/lrt-jakarta-logs-rp211-billion-revenue-in-202