JAKARTA - PT Perusahaan Listrik Negara (Persero) reported net profit of IDR 22.02 trillion throughout 2023, up 53.21% year-on-year (yoy) from IDR 14.41 trillion seen in the same period in 2022. This profit growth is in line with revenue increase.

Based on the Financial Report of 2023, quoted Wednesday (29/5), PLN’s operating profit was at IDR 487.38 trillion, growing from IDR 441.13 trillion. The primary contributor was electricity sales of IDR 333.19 trillion, which improved from IDR 311.05 trillion. It was followed by compensation income of IDR 73.99 trillion, or increasing from IDR 63.64 trillion; government electricity subsidy of IDR 68.63 trillion, which grew from IDR 58.83 trillion; customer instalment of IDR 1.28 trillion, up from IDR 857.4 billion; and others of IDR 10.27 trillion, increasing from IDR 6.73 trillion.

The operating profit decreased to IDR 47.20 trillion from IDR 54.93 trillion, affected by increased operating expenses, especially due to fuel and lubricants, as well as electricity purchase.

However, profit before taxes improved to IDR 32.27 trillion from IDR 21.54 trillion due to gains on forex of IDR 3.72 trillion from the previous loss on forex of IDR 19.79 trillion. (LK/ZH)