JAKARTA - The financial performance of PT Perusahaan Listrik Negara (Persero) or PLN in the first three months of this year is quite promising. The reason is, this state-owned electricity provider can record profit growth even though operating expenses continue to increase.
Citing the company's financial report released Thursday, June 30, PLN earned Rp 95.92 trillion in operating revenues, up 9.56 percent from the same period in 2021 at Rp 87.55 trillion.
On the other hand, PLN's operating expenses rose even higher or reached 18.92 percent. In the three months of this year, the value became Rp. 84.59 trillion from Rp. 71.13 trillion in the first quarter of 2021.
In fact, due to the increase in operating expenses, PLN's operating profit fell 31.05 percent from Rp. 16.42 trillion to Rp. 11.32 trillion.
Even so, PLN managed to reduce its financial burden which in the first quarter of 2021 reached Rp5.73 trillion to only Rp4.76 trillion in the three months of this year.
As a result, PLN's net profit managed to increase 8.15 percent from Rp4.91 trillion to Rp5.31 trillion.
On the other hand, until March 2022, PLN's assets reached Rp1,611.01 trillion with equity of Rp987.2 trillion.
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