PGN's Q1 revenue up 9%

Publicly listed gas distribution company PGN said revenue increased by 9 percent to Rp 942 billion during the first quarter of this year from Rp 866 billion during the same period last year.

Investor Indonesia daily quoted the company's financial report that net profit jumped by 114 percent to Rp 148 billion during the first quarter from Rp 69 billion in the same period of last year.

But the company said that operating profit declined by 16 percent to Rp 200 billion from Rp 238 billion due mainly to higher operating costs.(*)