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Railway operator sees sharp jump in profits, revenue
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Train passengers queue up for tickets at Pasar Turi Station in Surabaya. (Antara/Didik Suhartono)
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tate-run railway operator PT Kereta Api Indonesia (KAI) saw a jump in its profits and revenue from January to April this year on the back of strong demand.
It recorded a 25.5 percent jump in revenues to Rp 5.4 trillion (US$405.4 million) during the January-April period compared to the same period last year.
Revenues from train passengers dominated earnings.
“We have been more aggressive in attracting passengers [this year],” KAI finance director Didiek Hartantyo said on Wednesday.
Meanwhile, its profits jumped almost 50 percent to Rp 574 billion compared to the Rp 365 billion recorded during the same period last year.
He said this figure was unusual as January to April was not peak season.
“In May and June, the figure will climb higher,” Didiek added.
This year, the company aims to book Rp 19.5 trillion in revenue. Meanwhile, its profits are expected to reach more than Rp 1.5 trillion from Rp 1.02 trillion last year. (bbn)
