"In 2020, PLN had posted a net profit of Rp5.9 trillion, an increase of Rp1.6 trillion as compared to Rp4.3 trillion in 2019," PLN President Director Zulkifli Zain noted in a written statement released on Tuesday.
The rise in net profit was attributed to the efficiency of the technical and operational sides as well as innovations through the PLN transformation program implemented since April 2020.
The 2020 net profit might increase to Rp13.6 trillion if unrealized loss of Rp7.7 trillion from the exchange rate difference was not reckoned, Zain remarked.
Related news: 10 remote villages in East Nusa Tenggara get power supply
Meanwhile, PLN received an accrued income of Rp5.9 trillion from power connections to subscribers.
The transformation program, implemented since last year, has managed to strengthen the company's resilience amid the COVID-19 pandemic and raise the company's net profit, he remarked.
Income from the sale of electrical power reached Rp274.9 trillion, including the COVID-19 subsidy stimulus at Rp13.8 trillion, to help 33 million low-income subscribers.
Subsidy income was recorded at Rp48 trillion resulting from the supply of electrical power to 37 million subscribers and the compensation of Rp17.9 trillion for 42 million subscribers. Related news: PLN to electrify East Kalimantan's 33 remote villages this year
Translator: Sugiharto Purnama/Suharto
Editor: Rahmad Nasution
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