PLN posts operating profit of Rp9.6 trillion

PLN  posts operating profit of Rp9.6 trillion

High-voltage power line (ANTARA FOTO/Muhammad Iqbal/pras.

Jakarta, (ANTARA News) - State electricity company PT Perusahaan Listrik Negara (PLN) posted an operating profit of Rp9.6 trillion, excluding exchange rate difference in the third quarter of 2018.

The figure represented a 13.3 percent increase compared to Rp8.5 trillion in the same period a year earlier, according to data made available to on Tuesday.

The profit hike resulted from rising sales, efficiency, and government`s policy to set the price of coal sold to the company under the domestic market obligation (DMO) scheme.

The sales of electrical power rose by 6.93 percent, or Rp12.6 trillion, from Rp181.8 trillion to Rp194.4 trillion in the same period in the previous year.

The sales in the year ended in September 2018 reached 173 Terra Watt hour (TWh), up 4.87 percent from 165.1 TWh in the same period a year earlier.

The company is trying to refrain from raising the electricity tariffs to maintain the people`s purchasing power and make businesses and industries more competitive in support of the national economic growth.

The number of subscribers until the third quarter of 2018 reached 70.6 million, up 2.5 million compared to the end of 2017. Consequently, the national electrification ratio rose to 98.05 percent on Sept 30, 2018, from 95.07 percent on Dec 31, 2017.

The electrification ratio surpassed the target of 96.6 percent for 2018.

Reporting by Afut Syafril Nursyirwan
Editing by Suharto