Jakarta (ANTARA) - State-run railway company PT Kereta Api Indonesia (KAI) booked net profit of Rp740 billion (US$49.58 million) in the first half of 2022.

The amount grew by 54 percent as compared to Rp480 billion ($32.15 million) recorded in the first semester of 2021, PT KAI's President Director Didiek Hartantyo noted in a statement here Monday.

"PT KAI recorded positive results with recovery in the national economy, one of which is marked by the growth of the public transportation market, following the relaxation of mobility restrictions by the government," Hartyanto stated.

The president director noted that the company also recorded a significant growth in earnings before interest, taxes, depreciation, and amortization (EBITDA) that reached Rp2.078 trillion, as compared to Rp548 billion in the first semester of 2021.

With that, KAI was able to generate Rp11.7 trillion or revenue that grew 58 percent as compared to the first semester of 2021, at Rp7.4 trillion.

The rise in revenue was in line with the increase in the volume of passenger and freight transportation.

The volume of train passengers in the first semester of 2022 increased by 42 percent as compared to the same period in the previous year.

The number of train passengers is expected to reach 119.8 million in 2022, from 84.1 million in 2021.

Revenue from passenger transportation in the first semester of 2022 grew by 154 percent and reached Rp2.8 trillion, as compared to Rp1.1 trillion recorded during the corresponding period last year.

In terms of freight transportation, the volume in the first semester of 2022 had reached 26.7 million tons, an increase of 15 percent as compared to 23.2 million tons during the same period in 2021.

Revenue from freight transportation in 2022 had grown by 27 percent to reach Rp4.2 trillion, from Rp3.4 trillion in 2021.

"The two main business segments of KAI still make a significant contribution to KAI's performance in the first half of 2022," Hartyanto stated.

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KAI will continue to increase revenue in the passenger transportation sector by implementing strict health protocols in order to ensure that train travel for the public is safe, comfortable, and healthy.

To help complete travel requirements, KAI has also provided stations that serve COVID-19 tests and free vaccinations.

"The profit growth and revenue increase are in line with the strategies, hopes, and aspirations of shareholders, who want the company to survive and become stronger in the midst of the health and economic crisis caused by COVID-19," Hartyanto stated.

Related news: KAI expands COVID-19 vaccination services at train stations

Translator: Adimas Raditya, Sri Haryati
Editor: Rahmad Nasution
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