JAKARTA - PT Perusahaan Listrik Negara (Persero) recorded a profit of IDR 14.41 trillion in Q1 2023, shifting positively from IDR 13.17 trillion in the same period last year.

In the Q1 2023 Financial Report quoted Monday (8/5), Darmawan Prasodjo, President Director of PLN, revealed that PLN's revenue reached IDR 411.13 trillion, also increasing from IDR 366.97 trillion.

The contribution of the electric power sales dominated with IDR 311.05 trillion, followed by new user connection of IDR 857.46 billion, government's power subsidy of 58.83 trillion, compensations of IDR 63.34 trillion, and other segments of IDR 6.73 trillion.

In Q1 2022, the electricity sales only generated IDR 288.62 trillion, followed by the new user connection of IDR 493.43 billion, government's power subsidy of IDR 49.79 trillion, compensations of IDR 23.39 trillion, and others of IDR 4.42 trillion.

The company's operating revenue was recorded at IDR 54.93 trillion, up from IDR 43.85 trillion, while the profit before taxes slipped off from IDR 23.22 trillion to IDR 21.54 trillion due to the increased loss on foreign exchange, bringing it down from gains of IDR 2.67 trillion to loss of IDR 19.79 trillion. Fortunately, the income taxes also shrank from IDR 10.04 trillion to IDR 7.12 trillion, allowing PLN to record a 9.41% yoy increase in its current year's net profit. (LK/ZH)