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Jakarta Post

PLN expects Rp 7.2t in net profits this year

  • Nani Afrida

    The Jakarta Post

Jakarta   /   Sat, November 28 2009   /  01:06 pm

PT PLN, currently exercising rotating blackouts in part of the country to manage electricity problems, is about to post hefty net profits this year. Having long sunk in losses, PLN expects to return with a bang with full-year profits estimated to reach a handsome Rp 7.2 trillion (US$760 million), president director Fahmi Mochtar said Thursday. The figure is a stark contrast to the Rp 12.3 trillion and Rp 6 trillion losses in 2008 and 2007 respectively. Fahmi said as of June this year, the company had posted Rp 6.25 trillion in net profits. Among the contributing factors was the government's decision to award the company a 5 percent margin in the distribution of electricity where the fare was subsidized by the state budget. Fahmi said the margin was expected to increase operating profits to Rp 14 trillion by the year-end. By comparison, the company posted Rp 3.6 ...