PGN reports hefty increase in total revenues in first quarter
Tuesday, May 3 2005 - 03:00 AM WIB
State owned gas distribution company Perusahaan Gas Negara (PGN) reported a 31 percent increase in its total revenues in the first quarter of this year to Rp 1.2 trillion from about Rp 921.9 billion in the same period, last year, Bisnis Indonesia reported on Tuesday.
PGN's corporate secretary Widyatmoo Bapang said in Jakarta on Monday that the hefty increase in the total revenues was contributed by the significant increase in the company's income from distribution and transmission business.
He said that the sales revenue from the gas distribution business rose by 23 percent to about Rp 951.3 billion during the first quarter of this year from about Rp 771.7 billion in the same period last year. The company's revenue from transmission business rose by 71 percent to Rp 255.2 billion from Rp 149 billion in the same period, last year.
Widyatmoko attributed the sharp increase in the sales from the distribution business to the increase in the number of its industrial customers.
He said that net profit rose by 34 percent to Rp 147.6 billion during the first three months of this year from Rp 197.5 billion in the same period, 2004. (*)