PGN's profit triples on transmission fees

State gas distribution company PT Perusahaan Gas Negara (PGN) said Monday that profit in the third quarter of this year more than tripled as the company got from transmission fees.

Net income raised to Rp1.56 trillion (US$171 million) from Rp427 billion a year earlier, the company said in quarterly report.

PGN?s revenue mostly comes from transmission fees followed by increased price to the costumer. ?Sales price to the costumer began January 2006 was increased to US$5 per MMBTU from previously US$4.5 per MMBTU,? Djoko Pramono PGN?s finance director said.

Revenue from gas sales and transmission fees rose 25 percent to Rp4.9 trillion in this quarter from Rp3.9 trillion in the same quarter last year.

PGN?s volume gas distribution cumulative until the end of this quarter reaches 315.68 million standard cubic feed per day (MMSCFD). (denny)