PLN reports increased 2008 loss
Friday, April 17 2009 - 02:07 AM WIB
State electricity firm PLN reported on Friday audited net loss of Rp.12.3 trillion (US$=Rp.10,750) for 2008, or more than two times higher than previous year?s loss of Rp.5.6 trillion.
The company attributed the increase in loss mainly to higher fuel costs (Rp.107 trillion in 2008 vs Rp65 trillion in 2007) foreign exchange loss (Rp.9.2 trillion vs Rp.0.9 trillion).
Despite the widening loss, the company?s revenue increased to Rp.164 trillion from Rp.114 trillion, mainly contributed by increase in the subsidy it received from the government. (alex)