JAKARTA. PT Perusahaan Listrik Negara (Persero) or PLN managed to collect net profit of IDR 16.04 trillion in the first quarter of 2023.

According to the recently released financial report, PLN’s net profit in Q1 2023 proliferated 197% year-on-year (yoy), higher than the numbers seen in the same quarter last year. In Q1 2022, PLN only gained a net profit of IDR 5.59 trillion.

PLN’s net profit surge in Q1 2023 was supported by the operating revenue that also soared 21% yoy to IDR 115.07 trillion.

In terms of composition, electricity sales remained as the most extensive contributor to the revenue of PLN in Q1 2023, generating IDR 78.86 trillion. Then, the revenue from the government’s electricity subsidy clocked up to IDR 15.72 trillion, followed by compensations of IDR 18.51 trillion, user networking of IDR 277.76 billion, and other segments of IDR 1.69 trillion.

PLN also gained some from currency exchange rate, reaching IDR 11.09 trillion in Q1 2023. On the contrary, the company recorded foreign currency exchange losses of IDR 13.15 billion in Q1 2022. (KR/ZH)